Euro Zone Saw Trade Surplus, But EU A Trade Deficit

The euro zone experienced a €2.8 billion ($3.67 billion) trade surplus in February, however the European Union as a whole suffered a €9.4 billion deficit, a Eurostat report said Monday.

Euro zone exports grew 11 percent in February compared to the year before to reach €150 billion, while imports increased at a more modest 7 percent to €147.2 billion.

February marked the fourth consecutive month of increased exports for the euro zone, according to Nasdaq. The news comes, however, as many predict that the economic zone may be headed back into recession this year.

The fourth successive rise in euro-zone exports in February boosts hopes that improving foreign demand will play a significant role in helping the single currency area return to growth over the coming months, Howard Archer, chief euro zone and U.K. economist for IHS Global Insight, said, according to Nasdaq.

February's trade surplus missed analyst expectations of €3 billion, according to Nasdaq.

The EU overall, though, ran a trade deficit as exports grew 10 percent to €132.8 billion, while imports rose 8 percent to reach €142.1 billion.

In the most recent country-by-country trade numbers, Germany logged the strongest exports at €85.8 billion, while the Netherlands came in second at €40.9 billion. France, normally considered an economic counterweight to Germany, lagged at €35.5 billion and posted a €7.8 billion trade deficit as it imported €43.3 billion in goods.