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May 18, 2009
Euro zone reports trade surplus
BRUSSELS - THE euro zone trade balance hit a 400-million-euro (S$789.9 million) surplus in March, the first time the figures emerged from the red for almost a year, the EU statistics office Eurostat said on Monday.

The first estimate figures for March were also much better than the one-billion-euro trade deficit posted in February by the 16 nations that use the euro currency.

February's figures were themselves revised from an earlier estimate of a two-billion-euro shortfall.

The March surplus was the first since a tiny 20-million-euro figure was reported in June 2008 before the European recession took a firm grip on the economy.

In the broader 27-nation European Union, there was also some sign of improvement, though from a lower base.

The European Union registered a 9.5-billion-euro trade deficit, down from 10.8 billion in February. -- AFP

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