Eurozone posts trade gap in April

June 17, 2011 at 9:52 AM
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BRUSSELS, June 17 (UPI) -- The 17 nations that share the euro as currency posted a $5.8 billion trade deficit in April, Eurostat said Friday.

The deficit, marking trades with the rest of the world, is a sharp fall from the surplus of $2.2 billion posted in March.

From March to April eurozone exports rose by 0.6 percent and imports rose faster, climbing 1.1 percent.

For the larger 27-member European Union, the trade deficit for April $22.7 billion, compared with $17.1 billion in April 2010.

For the EU, the deficit in energy trading has grown "significantly" this year, Eurostat said. In January through March -- the first quarter of the year -- EU countries reported a $131.6 billion trade deficit on energy items. For the same quarter a year earlier, the trade deficit on energy items was $98.9 billion.

The EU trade surplus with the United States for the first quarter rose from $19.9 billion in 2010 to $24.4 billion this year. The trade deficit with China grew from $49.7 billion a year ago to $55.1 billion this year, Eurostat said.

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