News Column

Ego International Weighs in on Europe's Road to Recovery

Jun 18 2013 12:00AM

Marketwire

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RIMINI, ITALY -- (Marketwired) -- 06/18/13 -- Times have been tough in the crisis-torn nations of Europe -- but according to Ego International, many of these countries are making important strides toward full-fledged recovery. The Italian import/export company points to a recent article from Bloomberg, which notes that many European countries are seeing their competitiveness restored, and economic growth looms right around the corner -- despite the presence of a few lingering signs of trouble. Ego International has issued a new statement to the press, commenting on the Bloomberg article and on the state of Europe in general.

As the Bloomberg article makes plain, there are still major problems plaguing many European countries, most notably high joblessness rates. Indeed, unemployment rates top 25 percent in at least two countries -- Greece and Spain -- while political unrest has led to the ousting of many elected leaders.

With that said, Bloomberg notes that the tentative steps toward recovery are tough to deny. The most significant sign of optimism in Europe is in the productivity gains seen in several countries, including Spain, Portugal, and especially Ireland. According to Bloomberg, many European nations are regaining their economic competitiveness.

Another positive sign, cited in the article, is the narrowing of national deficits. Indeed, Bloomberg notes that the combined account of Greece, Ireland, Portugal, Spain, and Italy narrowed to a deficit of just 0.6 percent GDP at the end of 2012 -- down from a full 7 percent in 2008.

In the company's press statement, Ego International points to improved export rates as the clearest signs of better times in Europe -- noting that even Greece is seeing its exports rise.

"In many European countries, exports are on the rise," comments Ego International. "This is most clearly seen in Ireland, perhaps, but the truth is that it is a trend seen more or less across the Eurozone. What this shows is that manufacturing and trade are both being revived -- both of which are crucial for sustaining long-term growth."

Indeed, Bloomberg notes that in Spain, exports reached 222.6 billion euros in 2012 -- a record. The article continues by affirming Ireland's place at the forefront of Europe's recovery; according to Bloomberg, many U.S. companies, including Facebook and Google, have expanded into Ireland in recent months, spurring further economic expansion. "Combine this with the nation's tremendous export values and you have some real reason for optimism," notes Ego International. "It is encouraging to see more European nations begin to walk down the same promising path as Ireland."

Ego International is an import and export consultancy, based in Italy but offering services around the world; the company is zealous for uniting foreign international manufacturers with top-shelf Italian suppliers.

ABOUT:

Ego International is an essential partner to the manufacturing industry, as well as a key player in export management in Italy and throughout the rest of Europe. The company's zeal is for connecting buyers and sellers and for helping to facilitate mutually-beneficial relationships. The company strives to provide international companies with cost-effective methods for getting parts made in Italy.



Source: Marketwire


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