Eurozone Trade Surplus Rises More Than Expected

(RTTNews) - The euro area trade surplus increased more than expected in May as exports rebounded, while imports dropped for the second month, official data showed Wednesday.

The trade surplus surged to EUR 16.2 billion in May from EUR 11.1 billion in April, Eurostat reported Wednesday.

The surplus was seen at EUR 12 billion. In the same period last year, the surplus totaled EUR 12.7 billion.

Exports grew 0.9 percent from a year ago, reversing a 1.2 percent fall in April. Imports decreased 0.6 percent, following a 0.2 percent drop in the previous month.

On a seasonally adjusted basis, the trade balance showed a surplus of EUR 13.1 billion compared to April's EUR 8.5 billion surplus.

During January to May, the trade surplus rose to EUR 86.5 billion from EUR 81.4 billion in the previous year.

Data showed that exports posted an annual growth of 4.6 percent and imports gained 4.5 percent. Intra-euro area trade grew only 1 percent in the January to May period.