The eurozone\u2019s trade surplus with the rest of the world jumped in June to 21.2 billion euros (about $ 25 billion) as the bloc\u2019s decline in commodity imports outpaced the decline in exports amid a global downturn in trade due to the Covid-19 pandemic.<\/p>\n\n\n\n
The European statistics office Eurostat said the bloc also saw the worst employment drop ever recorded in Q2 20.<\/p>\n\n\n\n
Eurostat also confirmed the record decline in the gross domestic product of the euro area in the Q2, which fell 12.1% compared with Q1 year.<\/p>\n\n\n\n
Eurostat said on Friday that the June trade surplus was higher compared to a year ago, when the bloc posted a positive surplus of 19.4 billion euros. The reading largely exceeded market expectations for a surplus of 12.6 billion euros.<\/p>\n\n\n\n
The surplus is more than double the amount recorded in May, when the bloc posted a surplus of 9.4 billion euros.<\/p>\n\n\n\n
The year-on-year improvement resulted from a 12.2% drop in imports, which offset an increase in exports by 10%, according to Eurostat estimates.<\/p>\n\n\n\n
The larger European Union, consisting of 27 countries, recorded a surplus of 20.7 billion euros in June, also due to a greater decline in imports compared to exports.<\/p>\n\n\n\n
In a separate statement, Eurostat said that euro zone employment in the April-June period fell 2.8% compared to the previous quarter, the steepest drop since data recording began in 1995.<\/p>\n","protected":false},"excerpt":{"rendered":"
The eurozone\u2019s trade surplus with the rest of the world jumped in June to 21.2 billion euros (about $ 25 billion) as the bloc\u2019s decline in commodity imports outpaced the decline in exports amid a global downturn in trade due to the Covid-19 pandemic. The European statistics office Eurostat said the bloc also saw the …<\/p>\n","protected":false},"author":9,"featured_media":30617,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,36],"tags":[6837,7125,6833],"class_list":["post-32716","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-eurozone","tag-surplus","tag-trade"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=32716"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32716\/revisions"}],"predecessor-version":[{"id":32717,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32716\/revisions\/32717"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/30617"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=32716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=32716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=32716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}