German exports and imports have contracted amid the eurozone debt crisis and a worsening trade environment globally. On a year-on-year basis, though, things don't look that gloomy at all for Europe's biggest economy. Trading activities in Europe's economic powerhouse, Germany, went down sharply in June, the National Statistics Office (Destatis) reported on Wednesday. After soaring by 4.2 percent in May, exports in June dipped by 1.5 percent, which was more than most analysts had penciled in. Imports fell even faster, dropping 3.0 percent after surging by 6.2 percent in the previous month. The June trade figures added to economists' concerns that Europe's biggest economy was in the process of losing momentum during the second quarter of 2012. No cause for panic yet But the slump in trade only became obvious in the month-on-month comparison. Statistical data looked much more positive on a year-on-year basis, with exports of German goods growing by 7.4 percent when compared to June 2011. Although shipments to fellow eurozone nations dropped by 3.0 percent, foreign orders to the US as well as the world's leading emerging economies, including China and Brazil, jumped by a staggering 19.8 percent from last year's levels. Germany thus remains the second-largest exporter after China. The German trade balance widened to 17.9 billion euros ($22.2 billion) in June, up from 15.6 billion euros in the month before.
GMT 17:19 2018 Thursday ,11 January
China factory gate inflation slows to 13-month lowGMT 17:50 2018 Wednesday ,10 January
German industrial output rebounds in NovemberGMT 17:39 2018 Wednesday ,10 January
Samsung tips record Q4 operating profit of more than $14 bnGMT 17:29 2018 Tuesday ,09 January
German industrial orders dip in NovemberGMT 15:36 2018 Thursday ,04 January
China factory activity accelerated in December: CaixinGMT 13:33 2018 Wednesday ,03 January
Turkey inflation rate eases but still stubbornly high in DecemberGMT 16:27 2018 Monday ,01 January
China manufacturing activity slows in DecemberGMT 17:36 2017 Sunday ,31 December
Spain to leave EU's deficit 'sin bin' next year: Rajoy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor