Thursday, March 22, 2007

Forex News: 22.03.2007 Euro-Zone January trade account swings into deficit

The euro zone had a trade deficit with the rest of the world in January 2007 as exports fell and imports rose.

According to figures released by the statistics agency Eurostat, the 13 countries that share the euro had a deficit of EUR7.8 billion on their trade in goods, compared with a deficit of EUR9.9 billion in January 2006 and a surplus of EUR3.2 billion in December 2006.

Eurostat revised up its estimate of the December surplus from EUR2.5 billion previously, partly reflecting Slovenia's entry into the euro zone in January.

The figures suggest that exports may not make as large a contribution to growth as they did in the fourth quarter, when the euro-zone economy grew by 0.9%.


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