US EditionGerman Exports Tread Water as US, China Shipments Fall
Exports to the US fell 8% and to China 6%, while sales to the EU rose nearly 3%, resulting in an overall 0.1% increase in October, Destatis reported.
- On Tuesday, Destatis reported Germany's exports almost stagnated in October as overall shipments rose 0.1 percent to 131.3 billion euros.
- Weak Chinese demand and local competition reduced orders, and tariffs weighed on shipments to the United States, as Germany's exports nearly stagnated in recent years.
- Imports fell 1.2 percent to 114.5 billion euros as most came from China but dropped around five percent; the trade surplus widened to 16.9 billion euros with exports up nearly three percent to other European Union countries.
- ING economist Carsten Brzeski warned exports `are still facing rough headwinds`, while analysts noted shipments were slightly better than expected due to stronger sales to other European Union countries.
- The shift in trading partners suggests analysts warn `it currently requires a lot of imagination to see a quick return of the export sector as a powerful growth engine for the German economy`, as China reclaims top spot from the US amid US tariffs.
47 Articles
47 Articles
German exports are falling significantly in two central sales markets. Economists see this as a bad sign for the economy. On the other hand, mountain climbing is taking place in a nearby market.
Increasing business with the EU's neighbouring countries has surprisingly revived the German export industry in October. However, there is no talk of a sustainable recovery yet.
The German exporters' business is booming. There is a clear setback, especially in two large countries.
Daily Journal
German exports tread water as US, China shipments fall
German exports almost stagnated in October, official data showed Tuesday, as heavy declines in shipments to the United States and China eclipsed growing trade with the rest of Europe.
Exporters' business is barely out of place in October. There is a significant setback, especially in the US.
German exports unexpectedly rise in October due to EU trade
By Maria Martinez BERLIN, Dec 9 (Reuters) – German exports rose slightly in October, beating expectations for a decline thanks to EU trade, while exports to the United States and China fell strongly. Exports rose by 0.1% in October compared with the previous month, data from the federal statistics office showed on Tuesday. The result compared with a forecast 0.5% decrease in a Reuters poll. Imports were down 1.2% on a calendar and seasonall…
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