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Eurostat figures show the bloc exported €30.6 billion more in goods to the US than it imported it, an increase from €23.6 billion in the same period of 2016.
Eurostat figures show the bloc exported €30.6 billion more in goods to the US than it imported it, an increase from €23.6 billion in the same period of 2016.

Eurozone March Trade Surplus Hits Record

Analysts say the controversy around US President Donald Trump has raised fears that he might not last a whole term and that, even if he did, there were too many distractions for him to be able to successfully push through his economic agenda

Eurozone March Trade Surplus Hits Record

The eurozone's surplus for trade in goods with the rest of the world during March was the widest since the single currency was launched in 1999, as exports jumped.
The surge in exports to a record is another indication that the currency area is set to end the fourth year of its recovery on a high. But it may also reinforce concerns in the US administration about the value of the euro on foreign exchange markets, and a trade deficit with the eurozone that appears to be growing, MarketWatch reported.
In a separate release Tuesday, the European Union's statistics agency confirmed that the combined gross domestic products of the currency area's 19 members was 0.5% higher than in the final three months of 2016, and 1.7% higher than in the first quarter of that year.
Eurostat didn't provide a breakdown of the sectors driving growth in the first three months of the year, but its trade figures suggest exports were a factor as the quarter drew to a close.
Exports of goods from the eurozone stood at €202.3 billion ($221.5 billion), a 13% rise from the same month in 2016. While imports climbed at a slightly faster pace, that didn't stop the surplus from widening to €30.9 billion, the largest since records began in 1999.
The eurozone's trade surplus with the US appears to have widened in the early months of this year. Eurostat provided figures for the 28-member European Union that showed the bloc exported €30.6 billion more in goods to the US than it imported from the world's largest economy during the first quarter, an increase from €23.6 billion in the same period of 2016.
The steady start to the year has underpinned confidence in the eurozone's recovery, which many economists had expected to falter in 2017 as higher energy prices lowered consumers' spending power, and political uncertainty undermined confidence.
The European Commission last week raised its 2017 economic growth forecast to 1.7% from 1.6%, expecting the currency area to expand at the same pace as in 2016. Rate setters have also become more upbeat about the outlook for 2017, with European Central Bank President Mario Draghi last week telling Dutch lawmakers that the recovery is "firming and broadening".
However, the central bank is set to remain cautious as it considers whether and when to ease back on the stimulus measures it has launched since mid-2014, because there are as yet few signs that the recovery is driving a sustainable pickup in inflation. "It is too early to declare success," Draghi told Dutch lawmakers.
Euro at 6-Month High
The euro rose above $1.10 on Tuesday to hit its highest since Donald Trump was elected US president in November, as political turmoil and doubts over interest rate rises pressured the dollar, while traders expected robust eurozone growth data.
The euro hit a six-month peak and German stocks touched a record high on Tuesday as signals on further European integration contrasted with political turmoil and fresh doubts about the economy in the United States.
The euro's rally was reinforced by dollar losses prompted by allegations that US President Donald Trump disclosed highly classified information to Russia's foreign minister about a planned Islamic State operation.
That conspired with doubts over Trump's economic policy and a run of weak data to dampen expectations of a rate hike from the world's biggest economy next month.
The euro was comfortably the best performing G10 currency on Tuesday, up around 0.6% against a broadly weaker US dollar. The dollar index—which measures the greenback against six other major currencies—was down around 0.4% on the day.
Analysts said the controversy around Trump has raised fears that he might not last a whole term and that, even if he did, there were too many distractions for him to be able to successfully push through his economic stimulus program.

 

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