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Euro-Zone Trade Deficit Holds Steady at 5.7B as Imports Surge
Monday, 17 November 2008 09:13:00 GMT
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The Euro-Zone posted a sa deficit of EUR 5.7 bln in September, in line with our median and unchanged from August. Exports rose 2.2% m/m in September, while imports advanced 2.1% m/m. September data mean the Euro-Zone posted a trade deficit of EUR 17.8 bln, in Q3, compared to a deficit of EUR 5 bln in Q2, which points to a negative contribution from net exports to overall GDP growth in the third quarter. Unadjusted data show a deficit of EUR 5.6 bln, versus a surplus of EUR 2.9 bln in September last year and compared to a deficit of EUR 9.4 bln in August.
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