The eurozone trade deficit declined sharply in May reflecting a notable growth in exports amid a fall in imports, Eurostat reported Friday.
The trade deficit fell to a seasonally adjusted EUR 0.9 billion in May from EUR 8.0 billion in April.
Exports posted a monthly increase of 2.9 percent, while imports decreased 0.1 percent in May.
On a yearly basis, exports of goods slid 2.3 percent. At the same time, imports registered a more marked decline of 12.8 percent. Consequently, the trade deficit dropped to EUR 0.3 billion from EUR 30.3 billion a year ago.
During January to May period, extra-EU exports advanced 4.5 percent from the last year, while imports slid 7.8 percent.
As a result, the trade balance resulted in a shortfall of EUR 28.5 billion compared to a deficit of EUR 166.4 billion in the same period last year.
