Eurozone trade surplus hits record high in July

FXStreet (Mumbai) - The official data released today in the Eurozone showed the 17-nation bloc hit another record high trade surplus in July as exports were buoyed by weaker Euro, while imports were unimpressive due to weak domestic consumption.

The non-seasonally adjusted trade surplus rose to EUR 31.4bn from EUR 26.4bn in June, as the gap between the value of exports and imports widened. The major contributor to the surplus was Germany, which enjoyed a surplus of EUR 15.7bn.

The exports rose 7% year-on-year, while the imports increased by a meager 1%.