Euro Zone trade surplus bigger than forecast

Euro Zone had a bigger than expected trade surplus in September as export growth outpaced the rise in imports year-on-year, official statistics have shown.

The European Union's statistics office Eurostat said the 16 countries using the euro had a trade surplus with the rest of the world of 2.9bn euros in September, up from 1.4bn last year and a deficit of five billion euros in August.

Eurostat said unadjusted exports grew 22 per cent year-on-year in September, while imports were up 21 per cent.

Adjusted for seasonal swings, exports grew 0.6 percent month-on-month in September while imports fell 2.5 per cent against August.