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.