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Euro zone trade surplus smaller than expected in Aug By Reuters

BRUSSELS (Reuters – As the euro area had to pay much higher for energy imports, its unadjusted trade surplus fell more than anticipated in August.

According to Eurostat, the EU’s statistic office Eurostat reported that the August external trade surplus for the 19 euro-zone countries was 4.8 billion euros. This is compared with 14.0 billion euros one year ago. Reuters polled economists and expected a surplus of 16.1 billion euros.

Eurostat stated that trade surpluses were adjusted to seasonal variations and reached 11.0 billion.

Eurostat stated that in January and August, the European Union’s deficit in trade in energy rose to 151.9 Billion Euros from 108.7 Billion euros during the same period in 2020.

From 12.9 billion during the same time period in 2020, the EU’s deficit in trade with Russia rose to 37 billion euro in the first 8 months of 2019. The EU’s trade deficit with Russia, its main energy supplier, rose to 37 billion euros in the first eight months of this year, from 12.9 billion in 2020.

Energy’s impact offset an increase in British trade surplus after Brexit. This rose to 93.1 billion euro in January-August from 65.6 billion in the previous year.

Due to an increase in exports, the EU’s trade surplus with America jumped sharply to 110 Billion Euros from 92.6 Billion euros.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.