Eurozone trade falls into deficit

Germany had already hinted at the fall, as the largest exported suffered a drop but was still in surplus territory last week. Germany and France continue to grow but at a slower rate, and the rest of the 16 eurozone nations have been hit hard by the current world recession.

The deficit was 4bn euros ($6bn; £3.7bn), compared with a surplus of 12.3bn euros in July. In August last year, the deficit was 11bn euros.

The reason was a 5.8% fall in exports from July, compared with a more modest fall in imports of 1.3%.

BBC News

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza