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Roundup: Eurozone trade surplus increases last December

Xinhua, February 16, 2015 Adjust font size:

The Eurozone international trade in goods was expected to witness a surplus of 24.3 billion euros (27.7 billion U.S. dollars) in December 2014, up from 21.2 billion euros in November, the statistical office of the European Union (EU) Eurostat said on Monday.

Compared with previous month, seasonally adjusted exports fell by 1.1 percent and imports by 2.4 percent in the eurozone.

During 2014, eurozone trade in goods recorded a surplus of 194.8 billion euros, compared with 152.3 billion euros in 2013.

Meanwhile, the 28-nation EU was estimated to have a trade surplus of 12.4 billion euros in December, up from a surplus of 8.1 billion euros in December 2013.

According to the Eurostat, in the January-November period in 2014, the EU deficit for energy decreased, as did the surplus for machinery and vehicles.

The highest increases from January to November in 2014 in EU exports were registered with China at 11 percent, followed by South Korea and the United States, while the highest increase of EU imports was registered with China and Turkey.

During the same period, the most notable decreases were recorded for exports to Switzerland at 18 percent and Russia at 13 percent, and for imports from Russia at 10 percent.

Concerning the total trade of EU member states, the largest surplus was observed in Germany with 201.8 billion euros in the January-November period.

The latest forecast published by the EU predicted the eurozone will grow by 1.3 percent in 2015 instead of the 1.1 percent forecast in November.

"The fall in oil prices and the cheaper euro are providing a welcome shot in the arm for the EU economy," said the EU's Economic Affairs Commissioner Pierre Moscovici in a statement.

However, the growth in the eurozone remains "stuck in low gear", Moscovici admitted. (1 euro = 1.14 U.S. dollars) Enditem