The eurozone's trade surplus almost doubled in March from February, the European Union statistics office said on Wednesday, the latest sign the bloc's exporters are fully benefiting from the global recovery.
Eurostat said the surplus for the 12 eurozone nations widened to 10.2 billion euros in March from a revised 6.5 billion in February. The surplus in March 2003 was 3.4 billion.
The March surplus was sharply above the expectations of economists polled by Reuters, who had estimated a surplus of 7.0 billion. Eurostat had originally reported the February surplus as 5.4 billion euros. Exports rose 12 percent to 100.4 billion euros from March 2003, while imports were up 5.0 percent to 90.2 billion.
With the euro off some 10 cents from record highs above $1.29 in February, exporters have found some relief and can fully take advantage of the expansion of global trade.
The earlier rise of the euro had awakened fears that the eurozone recovery would be derailed.
The International Monetary Fund forecasts that world trade volume will expand 6.8 percent in 2004 from 4.5 percent in 2003.