Arab Today, arab today eurozone exports hit by russian crisis
Last Updated : GMT 06:55:28
Arab Today, arab today
Arab Today, arab today

Eurozone exports hit by Russian crisis

Arab Today, arab today

Arab Today, arab today Eurozone exports hit by Russian crisis

A container ship
Brussels - AFP

Economic crisis in Russia and sluggish demand from Turkey weighed on hopes for an export-led recovery in the eurozone in June, official data showed on Monday.
Exports from the 18-nation single currency zone dipped by 0.5 percent in June compared with May to 162.2 billion euros ($217 billion), the Eurostat statistics agency said.
"June's eurozone trade data provided yet further evidence that the external sector remains too weak to make up for the region's feeble domestic recovery," said Jessica Hinds of Capital Economics.
Eurozone exports were dragged down by a 14 percent slump in demand from sanction-hit Russia and an 8 percent drop from Turkey, which is suffering an economic slowdown.
With imports up a slight 0.5 percent, this meant countries in the eurozone posted a marginally higher 16.8-billion-euro trade surplus in June, up from 15.4 billion euros the month before.
"Weaker external demand played an important part in the slowdown of the eurozone export-led recovery in the second quarter," said Christian Schulz, economist at Berenberg Bank.
Policy-makers in Brussels had hoped the eurozone economy was recovering on the back of exports from periphery countries that have pushed through reforms recommended by the EU.
But there are fears the crisis in Ukraine will weigh on growth this year and some EU leaders have warned that sanctions against Russia, which came into effect this month, could further derail the bloc's fragile recovery from the eurozone debt crisis.
"Not just the crisis of Russia's economy, but also the temporary slowdown in the US and some emerging markets contributed to the spring lull," said Schulz.
- Britain a bright spot -
Growth figures last week showed the eurozone economy ground to a halt in the second quarter, casting a cloud over the crisis-hit region.
In June, powerhouse Germany was the only major eurozone economy to post a significant increase in exports for the year to date, which rose three percent from the same period in 2013.
Exports in Spain and Portugal, which slumped into deep recessions during the eurozone debt crisis, dropped one percent. Greek exports were down 8 percent.
Meanwhile, demand for eurozone exports was up a strong 8 percent in Britain, where an economic recovery is underway. Demand from China was also up 8 percent.
"The UK was one of the few very strong bright spots for trade in the first half of the year," Berenberg's Schulz said.
In June, Britain posted the widest trade deficit in the 28-nation EU, at 48.1 billion euros, followed by France, Spain and Greece.
Overall, the EU posted a trade surplus of a 2.9 billion euros in June, pushed wider than the previous month by a drop in imported energy.
Looking ahead in the eurozone, Hinds of Capital Economics forecast improvement "as exporters start to feel some benefit from the recent depreciation of the euro".
A strong euro especially against the dollar has been criticised by both governments and companies as a major constraint to expanding exports.

 

arabstoday
arabstoday

GMT 05:27 2017 Thursday ,21 September

Japan, China agree to enhance financial cooperation

GMT 03:20 2017 Thursday ,21 September

Venezuela extends state of economic emergency

GMT 13:55 2017 Wednesday ,20 September

Humble bicycle back in vogue in Cuba

GMT 13:19 2017 Wednesday ,20 September

European equities waver before Fed decision

GMT 12:57 2017 Wednesday ,20 September

UK retail sales surge in August, raises interest rate

GMT 11:03 2017 Wednesday ,20 September

US CEOs optimistic on economy, tax reform: survey

GMT 07:12 2017 Wednesday ,20 September

NAFTA talks moving at 'warp speed,' US trade rep
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozone exports hit by russian crisis Arab Today, arab today eurozone exports hit by russian crisis

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozone exports hit by russian crisis Arab Today, arab today eurozone exports hit by russian crisis

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday