Brussels, 17 August 2023 (dpa-AFX/MIA) - The eurozone trade surplus grew markedly at the end of the second quarter as imports fell faster than exports, the EU's statistical office Eurostat reported Thursday.

The trade surplus rose to a seasonally adjusted €12.5 billion ($13.6 billion) in June from €0.2 billion in May.

Exports posted a monthly decline of 0.5%, while imports decreased by 5.6% in May.

On a yearly basis, exports of goods climbed 0.3%. At the same time, imports plunged 17.7%. Consequently, the trade balance swung to a surplus of €23 billion from a deficit of €27.1 billion. The expected surplus was €18.3 billion.

During the first half of this year, euro area exports advanced 3.2% from the last year, while imports slid 7.3%.

As a result, the trade balance resulted in a surplus of €5.3 billion compared to a deficit of €151.8 billion in the same period last year.

Photo: MIA archive