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The euro area trade surplus increased in October due to the increase in exports amid falling imports, Eurostat reported Friday.
The trade surplus rose to a seasonally adjusted EUR 10.9 billion from EUR 8.7 billion in September.
Exports increased 0.7 percent on month, while imports dropped 0.3 percent.
On an unadjusted basis, the trade balance posted a surplus of EUR 11.1 billion in October, in contrast to a deficit of EUR 28.7 billion in the same period last year. Exports decreased 2.4 percent from a year ago. At the same time, imports registered a double-digit decline of 16.3 percent.
Another data from Eurostat showed acceleration in the labor cost. The hourly labor costs rose by 5.3 percent year-on-year, faster than the 4.5 percent increase in the second quarter.
The two main components of labor costs are wages and salaries and non-wage costs. Wages gained 5.3 percent and non-wages moved up 5.1 percent, data revealed.
