Seasonally adjusted results:

November: +E6.1 billion

October: +E0.5 bln (revised from +E0.3 bln)
September: +E2.5 bln (revised from +E2.2 bln)
August: -E1.2 bln (revised from -E1.0 bln)
July: -E3.6 bln (revised from -E3.1 bln)
June: -E2.7 bln (revised from -E2.3 bln)

Non-seasonally adjusted results:

November: +E6.9 billion

October +E1.0 bln (revised from +E1.1 bln)
September: +E2.5 bln (revised from +E2.7 bln)
August: -E4.8 bln (revised from -E4.5 bln)
July: +E2.4 bln (unrevised)
June: +E0.1 bln (revised from +E0.3 bln)
—

FRANKFURT (MNI) – The seasonally adjusted trade surplus for the
Eurozone reached its highest level since mid-2004 in November, as
exports hit a record high, Eurostat reported on Friday.

Following a two-month slide, exports rebounded 3.9% between October
and November to E149.2 billion. With imports unchanged at E143.0
billion, the trade surplus came to E6.1 billion — its highest level
since July 2004 — from an upwardly revised +E500 million.

Taking November and October together, exports were up 0.6% compared
to the 3Q average, while imports were 2.3% lower.

The unadjusted trade surplus jumped to E6.9 billion, a near
seven-fold increase from October’s downwardly revised figure.

The energy trade deficit between January and October came to E268.0
billion, up 26% on the year. The shortfall in raw material trade
increased 28% to E37.5 billion. The manufacturing trade surplus was
up 23% over the same period to E256.0 billion.

The December manufacturing PMI showed foreign orders declining
further (44.6), with steep falls in all countries covered, led by
Greece, Italy and Spain.

However, the European Commission’s surveys show producers’
assessment of export order books remaining above the long-term average,
despite the marked erosion of past months. This suggests they still have
a cushion of back orders.

The downward trend in the euro will be welcomed by Eurozone
exporters, who are likely to see demand weakening further amid slowing
global economic activity and continued uncertainty regarding the debt
crisis.

— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —

[TOPICS: M$X$$$,M$XDS$,MTABLE]