By Maria Martinez
Eurozone exports fell in February for the second consecutive month, signaling that international goods trading entered the year on a weak footing as renewed Covid-19 related restrictions hit economic activity.
The European Union's statistics agency said Friday that the currency area's exports fell by 2.5% in February compared with January, while imports increased by 3.4%, both adjusted for seasonal variations. The seasonally adjusted trade surplus was 18.4 billion euros ($22 billion), compared with EUR28.7 billion in January.
The eurozone recorded a EUR17.7 billion surplus in goods traded with the rest of the world in February, compared with EUR23.4 billion in February 2020, before the pandemic hit the continent. The surplus narrowed as the 5.5% fall in exports outpaced the 2.7% drop in imports year-on-year, the data showed.
Figures also showed that exports to the U.K. partially recovered from January's slump, when new trading arrangements came into effect following the end of the transition period. Exports rose 13% in seasonally adjusted terms compared with January but remained 21% below the level observed in December 2020.
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