Euro Area trade surplus rose to 11.5 billion in June

The increase in exports outpaced a 5 percent gain in imports, according to figures published today by the European Union's statistics office in Luxembourg, and left the 13-nation euro area with a trade surplus of 11.5 billion euros ($15.5 billion), compared with a 18.3 billion-euro deficit a year earlier.

Europe's exports rose 9 percent in the first half as buoyant global economic growth countered the impact on overseas sales of the euro's gains. The pace of global growth is boosting exports even as politicians including French President Nicolas Sarkozy complain that the euro's advance against the dollar makes European goods less competitive abroad. The International Monetary Fund on July 25 raised its estimate for world economic expansion this year and next to 5.2 percent from 4.9 percent, citing stronger-than-forecast growth in Europe, Japan and emerging markets.

Euro Area trade surplus rose to 11.5 billion in June, Bloomberg
8/21/2007 6:08:17 AM