German exports rise sharply, easing recession fears

Exports to other EU countries increased with strong growth in the Netherlands and Belgium

                                

German exports rose by 4.6 per cent in September, their biggest rise in almost two years. The figures provided relief after concerns that Europe’s largest economy would fall into recession in the third quarter.

After seasonal and calendar adjustments the increase in German exports was 1.5 per cent on the same month a year ago, according to the Federal Statistics Office. It was their biggest increase since November 2017, with growth higher than expected.

Exports to other EU countries increased 5.6 per cent, with particularly strong growth in the Netherlands and Belgium, the Financial Times reported.

Exports to the US increased 6.9 per cent, while shipments to China fell 3.3 per cent.

German imports rose 2.3 per cent in September and the country’s trade surplus increased from €16.4bn (£14.1bn, $18bn) in August to €21.1 billion in September.

Third-quarter figures for German gross domestic product are due on November 14.

Last month the Bundesbank reported that the German economy contracted for the second consecutive quarter, following a 0.1 per cent decline in GDP in Q2.

Germany has been hit by the US-China trade war, uncertainty over Brexit and a decline in the car industry, with car manufacturing falling 12 per cent.

FURTHER READING: German manufacturing orders enjoy unexpected upswing in September

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image