Euro zone registers €2.3 billion trade deficit in July 2008
The euro zone recorded a trade deficit of €2.3 billion with the rest of the world in July 2008, compared with a surplus of €5.0 billion in July 2007, European Union statistics agency Eurostat said Wednesday.
The June 2008 balance revealed a deficit of €200 million, compared with a surplus of €7.5 billion in June 2007. Seasonally adjusted exports rose by 3.7% and imports by 5.8% year-on-year in July 2008 in the euro zone, Eurostat said.
The 27-member EU recorded a trade deficit of €21.5 billion in July 2008, a considerable rise from the €13.6 billion deficit in July 2007. In June 2008, the EU trade balance deficit stood at €20.0 billion, compared with €9.1 billion in June 2007. In July 2008 compared with June 2008, seasonally adjusted EU exports rose by 3.9% and imports by 4.1%.
In the first six months of 2008, the EU energy deficit increased to €181.1 billion from €122.0 billion in January-June 2007, while the surplus for machinery and vehicles rose in the same period to €74.2 billion from €57.6 billion. In the first six months of 2008, among all the EU member states, the largest trade surplus was observed in Germany with €103.2 billion, followed by the NetherlandsIreland (13.0 billion). In the same period, Britain registered the largest deficit of €61.1 billion, followed by Spain (50.2 billion), France (21.8 billion) and (31.9billion) and Greece (18.1 billion) (Xinhua)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.