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Eurozone trade deficit to jump to €2 billion

The eurozone’s external trade deficit is expected to rise to €2 billion (£1.77 billion), according to a first estimate by Eurostat, the Statistical Office of the European Communities.

In February last year, the eurozone’s trade balance with the rest of the world was €1.7 billion.

In February this year, compared with January this year, seasonally adjusted exports rose by 0.5% while imports fell by 0.8%, Eurostat says.

The first estimate for the trade balance of the European Union of 27 countries (EU27) was a deficit of €10.6 billion, compared with a deficit of 13.3 billion in February last year.

In the EU27, seasonally adjusted exports rose by 8.0%, while imports fell by 1.9%.

The largest external trade deficits were recorded in Britain (€8.9 billion), France (€5.6 billion), Spain (€4.1 billion), Italy (€3.6 billion), Greece (€2.3 billion), Portugal (€1.3 billion) and Poland (€1 billion).

The largest surpluses were recorded in Germany (€7.2 billion), the Netherlands (€3 billion) and Ireland (€2.9 billion).

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