Foreign trade in the euro area expanded significantly

Foreign trade in the euro area flourished in May. Exports and imports have expanded considerably, which is another sign that world trade is in a good state.

The world’s number one retailer, the European Union has also increased its turnover with all of its major partners, notably Russia, despite the economic sanctions on Moscow – according to a report released on Friday by the European Union’s Statistical Office (Eurostat).

The 21.4 billion euros export surplus of May was 8.5 percent lower than the one-year-earlier figure of 23.4 billion euros. (MTI)