The eurozone's goods trade surplus widened on a seasonally adjusted basis to €17.0 billion in January, rising from an upwardly revised €16.0 billion recorded in the prior month, data from Eurostat showed.

Exports rose 0.8% month over month to €194.8 billion in January, while imports edged up 0.3% to €177.8 billion. Intra-eurozone trade increased to €164.7 billion from an upwardly revised €162.2 billion in December 2018.

On an unadjusted basis, the eurozone posted a goods trade surplus of €1.5 billion in January, compared with €3.1 billion recorded in the same month a year ago. Exports grew 2.5% year over year to €183.4 billion, while imports climbed 3.4% to €181.8 billion.

On March 6, the Organisation for Economic Co-operation and Development slashed growth estimates for the eurozone, citing weak global trade growth and the economic slowdown in China and Europe.