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EU trade with US, Russia drop

EU trade with US, Russia drop
AP
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First Published: Mon, May 18 2009. 03 20 PM IST
Updated: Mon, May 18 2009. 03 20 PM IST
Brussels: European Union says trade with its major partners has dropped during the crisis-hit first two months of the year compared to 2008.
The EU announced on Monday that EU exports to the US dropped by 24% over the period while import sagged by 9%. Exports to Russia slumped by 37% while imports suffered even more with a 39% drop.
The biggest drop came in exports to Turkey, 41%, while imports fell 30%.
The initial estimate for the overall trade balance of the 27-nation EU in March was a deficit of €9.5 billion compared with a deficit of 19.6 billion the previous year.
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First Published: Mon, May 18 2009. 03 20 PM IST
More Topics: EU | Foreign trade | European Union | Russia | US |