Eurozone Deficit
Sunday, July 20th, 2008
Looking for a favorable balance of trade? Don’t look to the European Union and its euro, then.
The 15 nations that comprise the European Union (those countries that share the euro, anyway) fell into a trade deficit in May 2008, according to Industry Week Magazine. The deficit was at a total of 4.6 billion euros, dropping from an April deficit of a lower 2.5 billion euros. The total deficit is up over 3 billion euros from the same time last year.
The total European Union (made up of 27 countries) had a total trade deficit of 21.5 billion euros in the same month, 7 billion more than the same month from 2007.
Original story courtesy Industry Week.