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Eurozone trade surplus shrinks on import gains

The eurozone's goods trade surplus narrowed to €18.1 billion in April from €19.8 billion in March as growth in imports outpaced that in exports, Eurostat data showed.

Imports grew 1.4% to €168.8 billion, while exports were up 0.3% to €187.0 billion.

Non-seasonally adjusted data showed the eurozone's goods trade surplus widen to €16.7 billion in April from €15.7 billion in the year-ago period. Exports were up 8.0% year over year to €182.9 billion, while imports rose 8.1% to €166.2 billion.

In the four months to April, the single-currency area's goods trade surplus rose to €64.4 billion from €58.7 billion in the same period a year ago.

The latest data comes as the EU weighs imposing tariffs on about €2.8 billion of U.S. products in response to Washington's planned additional duties on steel and aluminum from the bloc, Canada and Mexico.