The eurozone trade surplus has risen to EUR1.9 billion in a seasonally adjusted figure for May. This is in contrast to the 2.7 billion surplus markets expected and is also at odds with the EUR3.87billion deficit one year ago.

In the last year, exports have fallen by around 24% in the eurozone but imports have fallen even more, declining by around 27% as demand plummeted due to reduced consumer spending in the midst of the economic downturn.

Following the figures, currency transfer rates for the euro are at 1.41 against the US dollar and 0.86 against the pound.