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German exports increased by 9.2% and imports by 14.8% in month of May 2010; Exports up by 28.8% and imports by 34.3% compared with May 2009
By Finfacts Team
Jul 8, 2010 - 7:37:24 AM
German exports increased by 9.2% and
imports by 14.8% in month of May 2010 while the respective rise was 28.8%
and 34.3% compared with May 2009.
The German federal statistics
office, Destatis, reported today that Germany exported
commodities to the value of €77.5bn and imported commodities to the value of €
67.7bn in May 2010. Exports increased by 28.8% and imports by 34.3% in May 2010
on May 2009. This was the highest year-on-year increase in exports of a month
since May 2000 (+30.7%) and in imports since January 1989 (+38.9%). The foreign
trade balance showed a surplus of €9.7bn in May 2010. In May 2009, the surplus
amounted to € 9.7bn, too.
After seasonal adjustment, exports increased by 9.2% and imports by 14.8% in May
2010 compared with April 2010. As regards imports, this was the highest
month-on-month increase since the beginning of seasonal adjustments in foreign
trade statistics in 1990. The foreign trade balance recorded a surplus of €10.6bn in May 2010.
According to provisional data from the
central bank, Deutsche Bundesbank, the current account of
the balance of payments showed a surplus of €2.2bn in May 2010, which included
the balance of services (– €1.5bn), factor income net (– €3.2bn), current
transfers (– €1.6bn), and supplementary trade items (– €1.2bn). In May 2009, the
German current account showed a surplus of €4.7bn.
In May 2010, Germany shipped goods to the value of €47.1bn to the member states
of the EU, while it received commodities to the value of €43.2bn from those
countries. Compared with May 2009, dispatches to the
EU countries increased by 22.8% and
arrivals from those countries by 32.1%. Commodities to the value of €32.1bn
(+21.4%) were dispatched to the Eurozone countries in May 2010, while the value
of the goods received from those countries was €30.6bn (+32.8%). In May 2010,
goods to the value of €15.0bn (+25.8%) were dispatched to
EU countries outside the Eurozone,
while the value of the commodities which arrived from those countries was
€12.5bn (+30.5%).
Exports of commodities to countries outside the EU (third countries) amounted to
€30.4bn in May 2010, while imports from those countries totalled €24.6bn.
Compared with May 2009, exports to third countries increased by 39.5% and
imports from those countries by 38.2%.
