The German association for wholesale and foreign trade (BGA) yesterday announced that full order books led to growth in exports in July this year. Even though important German trade partners in the Eurozone suffered from cyclical economic weaknesses, this was compensated for by the dynamic trade with third party countries, according to the BGA. “Figures on imports to Germany were severely distorted by high energy prices””, said BGA chairman Mr. Anton F. Börner. According to the Federal Statistical Office, German exports increased by 7% in July this year as compared to July 2007.
Exports to the Eurozone increased by 4.1% and those to third party countries by 10%. Imports to Germany increased by 15.7% in the same period and those from countries outside the Eurozone even by 19.6%.