Ger­man ex­ports fall in June

China Daily (Hong Kong) - - BUSINESS -

Ger­many recorded its big­gest monthly drop in ex­ports in nearly two years in June, ac­cord­ing to fig­ures re­leased on Tues­day. Af­ter wit­ness­ing growth for five con­sec­u­tive months, ex­ports fell by 2.8 per­cent in June com­pared to May, ac­cord­ing to the Fed­eral Sta­tis­ti­cal Of­fice. The slump ex­ceeded economists’ pro­jec­tions for a slight de­crease and con­sti­tuted the big­gest fall since Au­gust 2015. Im­ports fell even fur­ther, by 4.5 per­cent dur­ing the same pe­riod, which was the worst fig­ure since January 2009. In total, Ger­man firms sold goods worth 107.2 bil­lion euros ($126.58 bil­lion) in June, which still marked a slight in­crease of 0.7 per­cent yearon-year. Trade with other Eu­ro­zone coun­tries grew by 2.7 per­cent, fur­ther un­der­lin­ing the bloc’s strength­en­ing eco­nomic re­cov­ery. Ex­ports to coun­tries out­side the Euro­pean Union, such as the United States and China, fell by 1.7 per­cent.

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