🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Euro zone trade surplus jumps year-on-year in September on stronger exports

Published 17/11/2014, 10:14
© Reuters Loading cranes are seen at a shipping terminal  in the harbour in Hamburg

BRUSSELS (Reuters) - A surge in exports boosted the euro zone trade surplus in September to more than double the previous month's value, data showed on Monday, pointing to a positive contribution from trade to euro zone's economic growth in the third quarter.

The European Union's statistics office said that the unadjusted external trade surplus of the 18 countries sharing the euro rose to 18.5 billion euros (15 billion pounds) in September from 10.8 billion a year earlier and a revised 8.6 billion in August.

The better result was mainly thanks to a 9 percent year-on-year jump in exports against only a 4 percent increase in imports.

Adjusted for seasonal swings, the surplus was 17.7 billion, Eurostat said, up from 15.4 in August and 12.8 billion in July.

Month-on-month, seasonally adjusted exports rose 4.2 percent while imports rose 3.0 percent, Eurostat said.

The EU's exports to Russia, which is under EU sanctions over its involvement in the conflict in eastern Ukraine, fell 12 percent year-on-year in the first eight months of the year while imports from Russia fell 8 percent.

Russia is Europe's main supplier of gas and oil.

© Reuters. Loading cranes are seen at a shipping terminal  in the harbour in Hamburg

Eurostat said that the value of energy imports to the European union in general in the first eight months of the year fell 9 percent compared with the same period of 2013 to a total of 230.6 billion euros.

(Reporting By Jan Strupczewski, editing by Robert-Jan Bartunek)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.