German exports down in August

In August 2008, German exports dropped by 2.5% as compared to July. In the same period imports increased by 2.6%. After adjustments for calendar and season exports fell by 0.5% and imports by 2.5% in the period from July to August this year from 87.0 billion and 73.2 billion Euros to 75.7 and 65.1 billion Euros respectively. The foreign trade balance closed with a surplus of 10.6 billion Euros in August 2008.

In August 2007 the foreign trade balance surplus had amounted to 14.3 billion Euros. After adjustments for calendar and season the foreign trade balance amounted to 13.1 billion Euros in August 2008.

According to calculations by the German Bundesbank, the German balance of current accounts closed with a surplus of 7.3 billion Euros in August 2008 while this balance was 10.0 billion Euros in August 2007.

Exports to member states of the European Union amounted to 47.2 billion Euros in August while imports from these countries to Germany reached 41.0 billion Euros. In comparison with the respective figures from August 2007 exports fell by 1.4% and imports increased by 1.1%.

Exports to countries outside the European Union fell by 4.4% in August as compared to August last year and reached 28.5 billion Euros while the respective figures for imports from these countries to Germany were +5.2% and 24.1 billion Euros.

The above figures are for the time being just provisional ones. GERMAN