U.S. trade with Europe fell in the first five months of this year while EU trade with the emerging countries of Brazil, Russia and China leaped higher, according to a Eurostat press release Monday. Exports and imports to both the U.S. and Japan dropped slightly since the beginning of the year, while exports to Russia jumped 26%, to Brazil 21% and to China, 17%.
The overall EU trade deficit increased (-100 billion euro) over the same period last year (-82 billion euro), with energy imports growing offset by exports of cars and machinery. Within the EU, Germany had the largest surplus (+83 billion euro) while the UK registered the biggest deficit (-50 billion). Poland’s growth over the year was remarkable with exports growing 18% and imports 19%.