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Economy in Brief

Euro Area Export and Import Growth Both Tic Up in June
by Robert Brusca August 21, 2007

Exports were up more strongly in June than were imports shrinking the Euro area trade deficit in the month. Exports have a reasonably strong history of growth across its main categories. Import growth also has been firm and broad-based. However, manufacturing exports and imports are the slowest year-over-year. Manufacturing exports are rising at an 8.8% pace compared to imports at 7.6%. But over short time horizons both export and import growth has slowed.

Ezone 13-Trade Trends for Goods
  M/M% % SAAR
Jun-07 May-07 3M 6M 12M
Balance* €€ 5,217 €€ 3,893 €€ 4,211 €€ 3,427 €€ 1,563
Exports
All Exports 1.7% 0.6% 8.8% 4.9% 10.1%
Food and Drinks -- 0.5% 14.7% 2.3% 6.0%
Raw Materials -- 2.3% 30.0% 7.4% 13.6%
MFG -- 0.8% 4.6% -0.1% 8.8%
IMPORTS
All Imports 0.7% 0.3% 10.2% -1.2% 4.1%
Food and Drinks -- -0.1% 15.8% 7.4% 6.0%
Raw Materials -- 2.3% 14.7% 5.4% 16.3%
MFG -- 1.6% 4.1% 4.3% 7.6%
*Eur mlns; mo or period average; Gray shaded areas lag one month
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