European Union-India trade flow shows upward trend

Brussels, April 21 (IANS) The 27-member European Union (EU) exported three billion euro worth of goods to India during January 2011, an increase of 42 percent from 2.1 billion euro in January 2010.

The EU imported goods worth 3.1 billion euro from India in January 2011, an increase of 23 percent from 2.5 billion euro in January 2010, EuAsia News reported quoting figures released by EUROSTAT, the EU's statistical office.

EU trade with all its major partners grew in January 2011 compared with January 2010. The most notable increases were recorded for exports to Turkey (+53 percent), Russia (+49 percent), India (+42) and Norway (+41), and for imports from Norway (+39), Brazil (+38), Russia (+33) and China (+31).

The EU trade deficit for the same period increased with China (-15.7 billion euro compared with -12.3 billon euro), Russia (-9.4 billion compared with -7.6 billion), Norway (-4.3 billion compared with -3.1 billion) and Japan (-2.1 billion compared with -1.7 billion), but fell with South Korea (-0.8 billion compared with -1.3 billion).