BRUSSELS: The goods trade surplus in 19-country Eurozone fell to 11.2 billion euros (12.7 U.S. dollars) from July’s record high reading, official data showed on Friday, suggesting the weakened global demand kept dragging on the bloc’s export.
The goods exports of the 19-country Eurozone in August was 148.3 billion euros while imports stood at 137.1 billion euros, according to the first estimate of Eurostat, the statistics body of the European Union (EU).
In July, the goods surplus reached a record 31.4 billion euros, a welcome reading suggesting the economy saw a good start in the third quarter. However, the August decline was viewed mainly due to a demand slowdown demand in emerging markets.
In wider EU, the exports in August was 131.8 billion euros and imports reached 134.1 billion euros. As a result, the 28-country bloc recorded a 2.3 billion deficit in goods trade, Eurostat said.
Economists cautioned that the goods surplus in eurozone may narrow further over the coming months despite demand from emerging markets was expected to get stronger.
