Eurozone Trade Surplus Rises More Than Expected

Eurozone's trade surplus rose more than expected by economists in May, a report from Eurostat showed Monday.

The trade balance was in a surplus of EUR 6.9 billion in May, higher than EUR 3.7 billion in April. Economists expected the surplus to rise to EUR 4 billion.

A year ago, the balance of trade in goods was in a deficit of EUR 1.2 billion. In seasonally adjusted terms, the trade surplus was EUR 6.3 billion compared to forecast for a surplus of EUR 5 billion.

On a seasonally adjusted monthly basis, Eurozone exports rose 0.3 percent while imports fell 0.9 percent.

Non-seasonally adjusted data showed that annual export growth remained steady at 6 percent in May, while imports remained unchanged.