Europe’s Exports to U.S. Drop 4%, the Most in 5 Years - by Lorenzo Totaro
European exports to the U.S. declined the most in five years in 2008 as the global financial crisis curtailed demand in the region’s main trading partners. Shipments to the U.S., the euro region’s second-biggest trading partner after the U.K., dropped 4 percent last year, the European Union’s statistics office in Luxembourg said today. Exports to the U.K. also fell 4 percent. Overall euro-area exports rose 4 percent in 2008, the smallest gain in five years.
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