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Euro Zone Trade to Surplus in October as Imports Decline

BRUSSELS, Dec 15 (Reuters) - The euro zone turned from trade deficit to surplus in October, non-adjusted data showed on Friday, as imports of energy in particular declined in value from a year earlier.

The European Union statistics office Eurostat said the seasonally unadjusted trade balance of the 20 countries sharing the euro was an 11.1 billion euro ($12.2 billion) surplus compared with a 28.7 billion euro deficit a year earlier.

Adjusted for seasonal swings, the October trade surplus was 10.9 billion euros, up from 8.7 billion euros in September.

For the European Union as a whole, the trade surplus in manufacturing goods rose to 313.5 billion euros in Jan-Oct 2023, roughly double the level of a year earlier, with machinery, including vehicles, the main contributor.

The EU's trade deficit with Russia fell sharply to 11.0 billion euros from 134.4 billion euros in the same period compared with last year as the 27-nation bloc sharply reduced its purchases of oil and gas and benefited from lower energy prices.

The EU's trade deficit with China also narrowed in Jan-Oct, while its trade surplus with the United States widened. The bloc's surplus with Britain also expanded.

($1 = 0.9122 euros)

Reporting by Philip Blenkinsop

Source: Reuters

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