Economic Buzz: Eurozone reports ?16.1B goods trade deficit in August

The euro area's goods trade balance ran a ?16.1 billion deficit in August, down from a ?10.7 billion surplus in July, Eurostat's preliminary figures showed Friday. The deficit stood at ?1.7 billion in August last year.

Exports rose 9.9% year over year to ?227.7 billion, while imports increased 16.7% to ?243.8 billion. The annual deterioration was driven mainly by machinery and vehicles, alongside a widening energy deficit.

The European Union registered a goods trade deficit of ?25.2 billion, compared with ?7.5 billion a year earlier. Exports increased 9.4% to ?202.9 billion, while imports climbed 18.2% to ?228 billion.

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