2018.02.1523:56:00UTC+00Eurozone Trade Surplus Expands, Buoyed by Global Growth

The euro area's trade surplus with the rest of the world increased at the end of 2017, with healthy global growth raising demand for European exports despite concerns the stronger euro could discourage trade.

The eurozone's external surplus expanded to €23.8 billion in December, from €22 billion the in November, as exports grew at nearly twice the pace of imports.

Exports increased by 1.7 percent, compared to a 0.9 percent rise in imports. That was driven by a more than 15 percent monthly rise in exports from France, which more than counterbalanced a slight decline in goods exported from the eurozone's first and third largest economies, Germany and Italy.

Year-on-year, the surplus narrowed slightly in December from a year earlier, as export growth fell behind the rise in the amount of goods imported. The single currency zone recorded a €25.4 billion surplus on that basis, down from €27.6 billion in December 2016, according to data from Eurostat.

While exports rose one percent year-on-year to €180.7 billion, imports from the rest of the world grew 2.5 percent, closing the gap slightly. Meanwhile within the eurozone, trade between members increased by 2.8 percent from the previous year to €142.4 billion.