The euro zone’s trade balance posted a smaller surplus in July than in the previous month. Seasonally adjusted, there was an increase of 2.9 billion euros, as the Eurostat statistics office announced in Luxembourg on Friday. In June, a surplus of 8.6 billion euros was recorded. The reduced surplus in June can be explained by falling exports. These fell by 1.7 percent compared to the previous month. In addition, imports rose by 0.7 percent.
The development in the 27 countries of the European Union (EU) was similar to that in the 20 euro countries.
The balance of the trade balance results from the difference between exports and imports. As a rule, the Eurozone and the EU record surpluses in foreign trade. However, the significant increase in energy prices as a result of the Ukraine war had put a strain on the trade balance for many months. (dpa)