EU Trade with US Falls

     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%.

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