Exports help Europe to climb out of recession
Berlin - A solid jump in exports helped to power the 16-member eurozone out of recession during the third quarter, data released Tuesday showed as global trade gained momentum.
After slumping by 4.1 per cent month on month in August, exports from the nations sharing the euro surged 5.5 per cent in September, the European Union's statistics office Eurostat said Tuesday.
The increase in exports came despite a rise in the euro, which has in recent weeks breached the key 1.50 dollars mark.
Imports gained 1.1 per cent month on month in September, after falling by 1 per cent in August.
In the three months to the end of September, eurozone exports increased by 3.7 per cent to record their first quarterly rise since the second quarter of 2008.
The eurozone economy climbed out of its deepest recession in the third quarter to report a meagre 0.4 per cent growth rate, Eurostat had reported last Friday. (dpa)