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Euro Zone’s trade gap boosted in July on energy imports |
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FXstreet.com (Barcelona) – The trade deficit between the Euro Area and the rest of the world has posted considerable increases, both in the month as in the year, as the increase on exports could not balance the high costs of energy imports, according to data released by the Euro Zone’s statistics office.
Euro Area’ss trade deficit has grown to 2.3 billion in July, from the 0.2 billion in June, and from the 5.0 billion surplus posted in July 2007. Nevertheless, the trade deficit did not increase as much as to the 3.3 billion expected by the analysts.
On a seasonally adjusted basis, exports have increased by 3.7% on the month, although imports have posted a 5.8% rise, which gives a deficit of 6.4 billion, up fro the 3.5 billion gap in June. The increase on energy prices has been one of the largest contributors to July’s data, as the Euro Area’s energy deficit has increased to EUR151.1 billion from January to July; from the EUR106.5 billion deficit in the same period last year.
Posted originally: 9/17/2008 9:20:00 AM
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