EU's trade deficit drops in February 2004

EU’s trade deficit drops in February 2004

According to the data released by EU statistics institution Eurostat, Euro zone's trade surplus with the rest of the world amounted to €10.2 billion in March compared with €3.4 billion in March 2003. In March 2004, exports nearly remained stable while imports declined by 2.2%. Meanwhile, in 25 member states of European Union (EU), a €4.3 billion trade deficit was recorded in February 2004. It was €6.7 billion in February 2003. In January-February 2004 period, EU's trade deficit with China increased to €11.8 billion, but decreased with Russia to €5.6 billion, with Japan to €5.1 billion and with Norway to €4.4 billion. The largest trade surplus was seen in Germany with €25.7 billion in the first two months of 2004 and followed by Ireland with €5.7 billion, Netherlands with €4.8 billion, Sweden with €3.2 billion and Belgium with €3 billion.