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Export diversification augurs well for Europe's growth

Wednesday, March 11, 2015

Subject

The diversification and quality of European exports.

Significance

For all the gloom about Europe's economy, one fact stands out: the continent is a proficient exporter. This is not just true of Germany, the biggest exporter in Europe and the world's third-largest exporter overall. Half of the world's top-ten exporters are European.

Impacts

  • Export prowess suggests Europe's long-run growth prospects remain good.
  • This finding is independent of the currency fortunes of individual members or the region.
  • This supports a more bullish view on the euro-area growth prospects than currently foreseen.
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