German exports rose in May and and were down 24.5% in 12-month period compared with 28.7% in April. While exports increased by 0.3% on April 2009, imports fell by 2.1% in the month of May.
The German federal statistics office Destatis, says today that Germany exported commodities to the value of €60.7 billion and imported commodities to the value of €51.1 billion in May 2009 resulting in German exports being down 24.5% and imports 22.6% lower, than in May 2008.
The foreign trade balance showed a surplus of €9.6 billion in May 2009. In May 2008, the surplus had amounted to €14.5 billion. After seasonal adjustment, the foreign trade balance recorded a surplus of €10.3 billion in May 2009.
According to provisional results from the central bank, Deutsche Bundesbank, the current account of the balance of payments showed a surplus of €3.7 billion in May 2009, which included the balance of services (– €0.9 billion), factor income net (– €3.0 billion), current transfers (– €0.9 billion), and supplementary trade items (– €1.2 billion). In May 2008, the current account showed a surplus of €8.1 billion.
Destatis says in May 2009, Germany exported goods to the value of €38.9 billion to the European Union, while it imported goods worth €33.4 billion from those countries. Compared with May 2008, dispatches to and arrivals from the EU countries decreased by 25.4% and 22.1%, respectively. Exports to the Eurozone were valued at €26.8 billion (– 23.5%), while the value of imports was €23.6 billion (– 22.3%).
In May 2009, commodities to the value of €12.1 billion (– 29.4%) were dispatched to non-Eurozone countries, while the value of commodities which arrived from those countries was €9.8 billion (– 21.8%).
Exports outside the European Union (third countries) amounted to €21.8 billion in May 2009, while imports from those countries amounted to €17.7 billion. Compared with May 2008, exports to third countries decreased by 23.0%, and imports from those countries by 23.3%.
Destatis also reported that the manufacturing sector saw turnover fall in real terms by a seasonally adjusted 19.0% in May 2009 compared with May 2008 (following a revised –23.3% in April 2009). Domestic turnover decreased by 14.6% in the relevant period, revenue from business with foreign customers by 24.0%. Sales to euro area countries were 24.4% below previous year’s level, while sales to other countries went down by 23.6%.
The consumer price index for Germany in June 2009 rose 0.1% on June 2008. In May 2009 the rate of price increase was 0.0%. Compared with May 2009, consumer prices were up by 0.4% in June.
