15.12.202309:59:00UTC+00Eurozone Trade Surplus Rises In October

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.