Eurostat, the European Union's statistical office, has announced data on the trade balance of the Eurozone against the rest of the world for the month of November 2011.
A surplus well beyond expectations and forecasts was recorded: a +6,9 billion euro, compared to the deficit of 2,3 billion in November 2010 and considering a surplus of 0,7 billion estimated by analysts. Already in the month of October the balance had appeared in surplus by 1 billion euro.
Compared to the whole European Union of 27 countries, for which exports increased by 2,8% and imports decreased by 0,6%, recording a deficit for November of 7,2 billion euros, the data from the Eurozone were much more comforting: exports on a seasonally adjusted basis achieved +3,9% in exports and an unchanged value in imports.
Overall, despite the much better position of all trade movements in the euro area, the European Union (EU-27) obtained a very significant and encouraging result: in just one month, from October to November 2011, it reduced its trade deficit by 4 billion euros.
