Eurozone trade balance improved in June

BRUSSELS, Aug. 17 (UPI) -- The trade balance in the 17-nation eurozone shifted sharply higher in June with the currency region posting a $18.3 billion surplus, Eurostat said Friday.

Although considered a flash estimate, the surplus contrasts sharply with a surplus of $240 million posted in the same month of 2011.

In May, exports rose by 2.4 percent while imports remained unchanged, the European Union's statistical office said.

The 27-member European Union posted a $490 million surplus for June, compared to a $18.8 billion deficit in June of 2011.

For the EU, June's exports were 2.1 percent higher than May, while imports rose by 0.9 percent.