Home Economy EU-India trade drops in 2009

EU-India trade drops in 2009


Brussels : Export and import businesses between India and European Union countries have reduced by 15 to 16 percent during last year, EU office said Wednesday.

Exports from the 27-member body to India have decreased to 24.5 billion euro between January and November 2009, while the EU lost 15 percent of import from India during the same period as compared to the figure in 2008.

In 2008, total export from EU to India was registered worth 29.2 billion euro, up 16 percent from the last year’s figure, EU’s statistical office Eurostat said.

Exports from India to the EU have come down to 23.4 billion euro last year from 27.5 billion euro a year ago.

EU trade flows with all of its major partners fell, except for exports to China which grew by 2 percent, EuAsiaNews reported.

As compared to the figure of 2008, the largest decreases were recorded this year for EU exports to Russia (-39 percent), Turkey (-22 percent), Brazil (-21 percent), the US (-19 percent) and South Korea (-18 percent).