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Euro area trade surplus declines in October

The euro area's international trade surplus declined to €18.9 billion in October from €19.2 billion in the prior-year period, the first estimate from Eurostat showed.

Exports of goods to the rest of the world stood at €187.9 billion, up by 8.8% from €172.6 billion a year earlier, while imports jumped 10.1% to €168.9 billion from €153.4 billion in October 2016.

Intra-euro area trade climbed to €160 billion year over year, up by 9.7%.

From January to October, the trade surplus in the euro area narrowed to €187.9 billion, from €213.8 billion in the same period last year, the report said.

On a seasonally adjusted basis, Eurostat recorded a trade balance of €19.0 billion in October, down from €24.5 billion in September. Exports slipped by 2.4% while imports inched up by 0.6%.