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Economics Gazette

Economy and Business news




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February 21, 2018

Markets

Petro

Venezuela attracted 735 million USD from its cryptocurrency Petro

Venezuela attracted 735 million USD on the first day of selling its own cryptocurrency Petro, revealed the country’s president Nicolas Maduro. The initial coin offering (ICO) aimed to bring the country out of the economic crisis. Maduro hopes that oil will allow the affected OPEC member to compensate the US sanctions, while the currency Bolivar

agriculture export

Exports of European agricultural products increased by 5.1% in 2017

The exports of European agricultural products increased by 5.1% in 2017 to a record 137.9 billion EUR, according to latest European Commission analyzes. For comparison, an year ago the EU countries exported goods worth 131 billion EUR. The growth is mainly due to several markets – Russia, where exports of agricultural goods increased by 16%,

Japanese exports

Japanese exports expanded for 14th consecutive month

Japanese exports expanded for 14th consecutive month due to the serious stir in hybrid cars and semiconductors. This helps the country to reach the longest expansion of nearly 30 years with the eighth consecutive quarter of growth. The final figures for January are a sign of strong global demand for Japanese goods, which continues to

British retail sales

British retail sales slows more than expected in January 2018

British retail sales slows more than expected in January 2018, as consumers cut their costs. The retail sales are up 0.1% from December, which is well below analysts’ expectations for a 0.5% growth. On an annual basis, the retail sales increased by 1.6%, which is also below the forecasts of the economists for growth of

European trade

Eurozone trade surplus decreases in 2017

The Eurozone trade balance reached a surplus of 25.4 billion EUR in December, decreasing by 2.2 billion EUR year-on-year, according to the seasonally unadjusted data data from Eurostat. The result is below analysts’ expectations for a surplus of 30.2 billion EUR. The Eurozone exported goods to the rest of the world for 180.7 billion EUR

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