Big Swing in Euro Trade

The balance of trade between Europe and Latin America has been upended over the last seven years, with Europe going from net exporter to a big-time importer racking up a 17 billion euro deficit in trade with Latin America. But the old-world inequity between manufactured goods and raw commodities remained, as Europe exported car and airplane parts while Latin America sold crude oil and copper. The biggest players in the transatlantic trade were Germany and Brazil.