BERLIN The mega euro, up 19% to the dollar year-on-year in March, drove down exports from Eurozone countries to the US by 3% last year, to $302B (194 billion euro), according to recently-released Eurostat figures.
But Eurozone countries have offset the drop by selling more to Eastern Europe.
Europe's new member states bought $290B (187 billion euro) of goods from the euro zone in the first 10 months of 2007, up 17% year on year.
In 2008, Eurozone country sales to new EU member states could exceed their sales to the US.
CEE exporters to the US have also been hit by strengthened local currencies, which are either pegged to or closely following the value of the euro.
Tescan, a manufacturer of metrology equipment based in Brno, Czech Republic, during 2006 and 2007 had seen the largest proportion of its sales to the US. But the company is feeling the effects of the exchange rate.
"The trend has been to export overseas, but the appreciation of the Czech Koruna has hurt our overseas business," said Jaroslav Klima, managing director. "The exchange rate is a threat to our company."