Eurozone sees $13.5B trade surplus in February, below estimates

• EU exports to US down 26.4% on annual basis, while shipments to China fall 16.1%

The eurozone posted a €11.5 billion ($13.5 billion) foreign trade surplus in February, rebounding from the previous month's trade deficit, the region’s statistical bureau Eurostat said on Friday.

January's trade deficit was revised upwards to €1 billion, the data showed, while the markets had expected the surplus to come in at €11.7 billion in February.

The eurozone's exports to the rest of the world fell 6.7% year-on-year in February to €232.4 billion, while imports dropped 2.2% to €220.9 billion.

Meanwhile, the EU saw a foreign trade surplus of €9.1 billion in February.

The US continued to be the largest recipient of EU exports, with €38.3 billion, though dropping 26.4% on an annual basis.

EU's exports to China fell 16.1% in the same period to €14.2 billion, and exports to the UK edged up 0.1% to €28.6 billion.

China was the largest importer to the EU in February, accounting for €44.5 billion, up 3.4% year-on-year, while imports from the US fell 3.2% to €27.7 billion.

The eurozone/euro area, or EA21, represents member states that use the bloc's single currency, the euro, while the EU27 includes all of its members.