Euro area trade surplus widens in July on higher exports

  • by Ahmed Mamdouh
  • September 13, 2019, 13:27 AM
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Euro area seasonally adjusted trade surplus widened to 19.0 billion euros in July, compared to a revised surplus of 17.7 billion euros in June, Eurostat data released on Friday showed.

The data came above analysts’ projections of 17.5 billion-euro surplus. Exports increased by 0.6 percent, while imports remained stable.

The euro area recorded a non-seasonally €24.8 billion surplus in trade in goods with the rest of the world in July 2019, compared with €16.9 billion in July 2018.

As of 09:22 GMT, the euro resumed its advance for a second straight session to $1.1095 after reporting a peak at $1.1109, the highest since August 27.

Now, the common currency is set for its second consecutive weekly gain versus the U.S. dollar despite backlash among ECB after unveiling a new stimulus package on Thursday.

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