Massive Increase in Global Foreign Trade Deficit

Business › Economy ♦ Published: October 7, 2011; 14:48 ♦ (Vindobona)

January to July 2011: import trade volume of € 75bn, export trade volume of € 71bn. The global foreign trade deficit increased from € 1.86bn to € 3.89bn.

Massive Increase in Global Foreign Trade Deficit / Picture: © Wikimedia Commons / Biberbaer [CC BY-SA 3.0]

According to preliminary results by Statistics Austria, total imports amounted to € 74.58bn and total exports amounted to € 70.69bn in the period January to July 2011. Austrian imports increased by 18.1% and Austrian exports rose by 15.4% compared to the same period in 2010. The global foreign trade balance showed a deficit of € 3.89bn, up significantly from 2010 (€…

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