Eurozone trade surplus fell 1.3 percent in 6 months

UNITED STATES, WASHINGTON (VOP TODAY NEWS) — The trade surplus (the difference between exports and imports) for the euro zone (19 countries) fell 1.3 percent year on year in the first half of 2019.

The euro zone’s trade surplus stood at 102.2 billion euros ($ 113.41 billion) in the first half of 2019, compared with 103.6 billion euros ($ 114.96 billion) in the same period of 2018, the Eurostat said on Friday.

The State generates a trade surplus when exports exceed imports, and when imports exceed exports, it is called a trade deficit.

The euro area includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Rome, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

Last month, the European Commission lowered its euro zone growth forecast to 1.4 percent in 2020 from 1.5 percent in a previous forecast, while keeping the 1.2 percent growth unchanged in 2019.

On the other hand, Eurostat said that the EU region (28 countries) recorded a trade deficit of 9.1 billion euros (10 billion dollars) in the first half of 2019 compared to 2.2 billion euros (2.44 billion dollars) in the corresponding period of 2018.

The EU includes the euro zone countries, as well as Bulgaria, the Czech Republic, Denmark, Croatia, Hungary, Poland, Romania, Sweden and Britain.

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