Eurozone trade surplus rises more than expected

The eurozone’s trade surplus grew more than expected during the year to the end of June, new data showed yesterday, but the improved surplus does not yet reflect the full effect of sanctions and counter-sanctions imposed by the EU and Russia over the Ukraine conflict.

The international trade balance of the 18 countries sharing the euro grew to €16.8bn in June; up from €15.7bn in June last year, as exports rose more than imports. It was also up from the €15.4bn surplus recorded in May.

Seasonally unadjusted exports rose by 3% during the year to the end of June after being unchanged in May, the EU’s statistics office Eurostat said. Imports were up 2%, also after being unchanged in May.