Fresh economic data from the Eurozone showed that the trade surplus increased in September compared to the month before.

The increase came about as exports from the region rose rapidly outpacing imports.

Official data released last Wednesday showed that Eurozone exports rose at a pace of 1.1% on a monthly basis while imports decreased 1.2% in September, compared to the month before.

On a seasonally adjusted basis, the trade surplus rose to EUR 25 billion up from EUR 21 billion in August.

Exports from the EU 28 region was seen rising 2.5% on a month over month basis, while imports rose 1.0%. Combined, the trade surplus from the EU28 region was seen rising 3.1 billion.

Eurozone economy continues to improve

The trade surplus data was the highest recorded since Eurostat started keeping records and since 1999 when the euro currency was launched.

The trade surplus data comes amid latest GDP figures that showed that the quarterly economic activity rose 0.6%. On an annualized basis, Eurozone GDP was seen rising 2.5%.

As the Eurozone economy continues to improve, the European Central Bank had announced a tapering to its QE program in October.

While cutting its bond purchases by half, the ECB however extended the bond purchases by nine-months. The smaller pace of bond purchases is expected to run until September 2018.