The eurozone posted a trade surplus of more than E100bn last year as weaker economic activity led to lower demand for imports. EU statistics office Eurostat said the eurozone trade surplus soared to E102.3bn in 2002, more than double the E49.5bn surplus recorded in 2001. Exports rose just 1pc last year, Eurostat added, but imports fell 4pc over the same period.
The statistics office also said the eurozone surplus fell to E7.4bn in December from E8.5bn a year earlier. The surplus is smaller than the E7.6bn figure analysts had expected. Eurostat revised the eurozone's November trade surplus to E9.6bn from E9.9bn, which compares with a year earlier figure of E6.4bn. //www.fxcentre.com