The balance of trade for nations within the European Union varied wildly in May, with Germany showing continuing signs of resurgence by posting a 69 billion euro surplus. While the UK tallied the largest deficit at -46 billion followed by Spain with -34 billion. Reflecting the erosion of the U.S. economy’s predominance, trade between the U.S. and Europe during January-April fell -3% compared to the same period last year. While trade expanded greatly with Russia (+28%), Brazil (+21%) and China (+20%).
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