TRADE: EU CUTS TRADE DEFICIT TO EURO 7.1 BILLION IN FEBRUARY.

The trade deficit figures do not, however, suggest the EU is losing its place on in world markets. Although the monthly deficit of Euro 7.1 billion are impressive - seven times that of February 1999, and two-thirds of the entire 1999 figure - they are the product of an impressive surge in both imports and exports. Exports were up 25% from Euro 54.0 billion to Euro 67.4 billion, while imports were up 35% from Euro 55.1 billion to Euro 74.1 billion. Within the EU, the trade dispatches were Euro 119.4 billion in February, 17% higher than the Euro 101.7 billion the year before.January definitive.Eurostat also adjusted its provisional January trade figures. The deficit was definitively set at Euro 13.1 billion (from Euro 12.3 billion in the provisional figures), exports were up 24% to Euro 59.4 billion (from a provisional Euro 59.2 billion), while imports were up 33% to Euro 71.5 billion (from a provisional Euro 72.5 billion. Within the EU, trade dispatches were Euro 107.1 billion in January (the provisional figure was Euro 110.0 billion). Exports and imports grew strongly across all main product groupings. The recent rise in oil prices was reflected in a 132% growth in the...