الإثنين , يونيو 15 2020

German exports and production fall

Containers in HamburgGermany’s falling exports come on the back of weaker figures for industrial orders

German exports and production fell in November compared with the previous month.

Exports fell 2.1% compared with October, German’s Federal Statistical Office reported, while imports rose 1.5%.

Meanwhile, factory production fell by 0.1% from October as energy production fell and construction activity decreased.

The latest news follows weak industrial order figures this week.

“Things are certainly not rosy,” said Bankhaus Lampe economist Alexander Krueger. “The geopolitical situation, especially the Russia conflict and the related economic uncertainty, is limiting growth,”

On a seasonally adjusted basis, the country’s trade surplus shrank to €17.7bn (£13.9bn) in November.

Germany exported goods worth around €95.8bn and imported goods valued at €78.0bn in the month.

In December, Germany’s economic affairs ministry said the country’s recovery was “progressing at a slow pace.”

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