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Euro zone trade surplus widens in May, exports, imports flat y/y BRUSSELS: The euro zone's trade surplus grew year-on-year in May in a sign net trade made a positive contribution to economic growth in the second quarter, the European Union's Statistics Office data showed on Wednesday.The external trade surplus of the 18 countries sharing the euro, unadjusted for seasonal swings, was 15.4 billion euros ($20.87 billion) in May, up from 14.6 billion euros in the same period of 2013, the data showed.Analysts polled by Reuters had expected a 16.5 billion euro surplus compared with the originally reported surplus of 15.7 billion euros in April, which was revised down to 15.4 billion.The euro zone's economic recovery, which relies heavily on exports, is sensitive to swings in demand for euro zone goods and the relative strength of the euro currency has not made life easier for exporters.The European Central Bank President Mario Draghi said on Monday that any further appreciation of the single ...

China's Q2 land prices slow for first time in two years BEIJING: Growth in Chinese residential land prices slowed for the first time in nearly two years in the second quarter of this year, the land ministry said on Wednesday, another indication that the property market is losing steam.Compared with a year before, the average price of land used for residential homes in 105 major cities rose 9.1 percent in the second quarter to 5,214 yuan ($840) per square metre, according to a report from the ...
EU/IMF troika wraps up Greek mini-audit before major fall review ATHENS: Inspectors from Greece's EU/IMF lenders have concluded a short, interim checkup of the country's performance under its bailout and will return for a more comprehensive audit in September, a senior Greek finance ministry official said on Wednesday.The scheduled week-long visit by inspectors was an unusually low-profile one to review the pace of reforms and lay the ground for the more crucial audit on fiscal targets and funding gaps in the fall, when talks on ...
British official unemployment rate drops to 6.5pc LONDON: Britain's unemployment rate fell to 6.5 percent in the quarter to the end of May, hitting the lowest level for more than five years, official data showed on Wednesday.The rate for the March-May period compares with 6.6 percent for the three months to the end of April, the Office for National Statistics (ONS) said in a statement.At 6.5 percent, the rate was at its lowest level since late 2008.The ONS added that the number ...
Freer trade and capital flows key to boosting growth, jobs: B20 SYDNEY: Business leaders from the G20 major economies called Wednesday for the freer movement of trade, capital and jobs to boost growth, but avoided addressing the controversial global issues of profit-shifting and climate change.More than 380 international business chiefs are set to attend the B20 summit in Sydney on Thursday and Friday before presenting their proposed growth strategies to the G20 presidency, which is chaired by Australia this year."When you see all the B20 recommendations ...
China's growth speeds up to 7.5pc, beats expectations BEIJING: Chinese growth accelerated to a forecast-beating 7.5 percent in the second quarter, official data showed Wednesday, as government stimulus provided a much-needed boost to the world's second-largest economy.The April-June figure from the National Bureau of Statistics compared with 7.4 percent in the previous three months and exceeded the median forecast of 7.4 percent in a survey of 17 economists by AFP.But some analysts remain pessimistic about the full-year outlook given persistent concerns over the ...
China growth picks up as stimulus pays off, but more support may be needed BEIJING: China's economy grew slightly faster than expected in the second quarter as a burst of government stimulus paid dividends, but analysts said further support was likely to be needed to meet the government's growth target for 2014.The world's second-largest economy grew 7.5 percent in April-June from a year earlier, the government statistics bureau said on Wednesday, just ahead of a median forecast of 7.4 percent in a Reuters poll.A raft of stimulus measures has ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln