EU records 9-bln-euro trade deficit with Latin American, Caribbean countries in 2009

21:50, May 17, 2010      

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The European Union saw a trade deficit of 9 billion euros (11 billion U.S. dollars) with Latin American and Caribbean (LAC) countries in 2009, the European Union (EU) statistical agency Eurostat said on Monday.

The EU's balance of trade with LAC countries turned from a 5-billion-euro (6 billion dollars) surplus in 2000 to a 9-billion-euro (11 billion dollars) deficit in 2009, according to the data released on the occasion of the EU-LAC summit to be held on Tuesday in Madrid.

The change is mainly contributed to an increase in primary goods in the 27-member EU, while the surplus in manufactured goods remained stable, according to Eurostat.

Almost half of the EU's exports to the LAC countries in 2009 were machinery and vehicles, while the main imports were primary goods, such as soya beans and their residues, crude oil, coffee and so on.

Among the 27 member states, Germany was by far the largest exporter to the LAC countries in 2009, accounting for 28 percent of the total.

The figures showed that the LAC countries accounted for just over 6 percent of the EU's total external trade in goods in 2009.

Source: Xinhua


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