24 April 2001, 14:39  Eurozone trade in deficit for second month in Feb

BRUSSELS, April 24 - The euro zone's trade balance with the rest of the worldshowed a deficit for the second month in a row in February, according to provisional datareleased by Eurostat on Tuesday. The euro zone registered a deficit of 1.0 billion euroscompared with a deficit of 0.3 billion euros in February 2000. January's deficit was revised to6.2 billion euros from an initially reported 7.4 billion euros compared with a deficit of 5.2 billioneuros in January 2000. Eurostat noted that both imports and exports grew by around 10 percent in February,indicating the global slowdown has had little impact on the bloc's trade It estimated the cumulative deficit for the first two months of the year was 7.2 billion euros, upfrom 5.5 billion euros in the same year-earlier period. The euro zone's traditional trade surplus has been eroded by high oil prices and the weak euro,factors which combined in 2000 to shrink the bloc's surplus to 12.6 billion euros from 51.2billion euros in 1999. Eurostat said the bloc's trade deficit in energy products in January 2001was 10.5 billion euros, up from a deficit of 8.8 billion euros in January 2000. Its deficit with Russia, a major supplier of oil and gas, was 2.4 billion euros in January, up from1.7 billion euros in January one year ago. The data also showed that the euro zone's trade deficit with China is now bigger than its tradedeficit with Japan. In contrast, the bloc's surplus on trade with the United States widened to 2.9 billion euros from1.5 billion euros a year ago

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