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News : EU Economy Last Updated: Mar 11, 2011 - 8:22 AM


German exports unexpectedly fell in January; Trade surplus also declined as imports rose
By Finfacts Team
Mar 10, 2011 - 7:32 AM

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German exports unexpectedly fell in January after gaining in the previous two months. Meanwhile, the trade surplus declined and the current account balance, a measure of all trade including services, fell sharply from December, as imports rose.

Germany exported commodities to the value of €78.5bn and imported commodities to the value of € 68.4bn in January 2011, according to the federal statistics office, Destatis. German exports increased by 24.2% and imports by 24.1% in January 2011 on January 2010. After seasonal adjustment, exports and imports showed diverging trends compared with the preceding month: while exports fell by 1.0% on December 2010, imports rose by 2.3%.

The foreign trade balance showed a surplus of €10.1bn in January 2011, down from €12.2bn in December . In January 2010, the surplus amounted to €8.1bn. After seasonal adjustment, the foreign trade balance recorded a surplus of €11.8bn in January 2011.

According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of €7.2bn in January 2011, which included the balance of services (– €1.2bn), factor income net (+ €3.4bn), current transfers (– €3.7bn), and supplementary trade items (– €1.3bn), down from €19.3bn in December. In January 2010, the German current account showed a surplus of €5.6bn.

In January 2011, Germany dispatched goods to the value of €48.3bn to the member countries of the European Union (EU), while it received commodities to the value of €41.8bn from those countries. Compared with January 2010, dispatches to the EU countries increased by 20.4% and arrivals from those countries by 19.7%. Commodities to the value of €32.7bn (+18.8%) were dispatched to the Eurozone countries in January 2011, while the value of the commodities received from those countries was €29.2bn (+17.1%).

In January 2011, commodities to the value of €15.6bn (+23.8%) were dispatched to EU countries not belonging to the Eurozone, while the value of the commodities which arrived from those countries was €12.6bn (+26.3%).

Exports of commodities to countries outside the European Union (third countries) amounted to €30.2bn in January 2011, while imports from those countries totalled €26.7bn. Compared with January 2010, exports to third countries increased by 30.8% and imports from those countries by 31.6%.

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