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News : EU Economy Last Updated: Nov 8, 2012 - 7:35 AM


German exports and imports fell in September 2012; Value of Eurozone shipments dipped 9%
By Finfacts Team
Nov 8, 2012 - 7:30 AM

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German goods exports and imports fell in September 2012 according to Destatis, the federal statistics office, today. The value of Eurozone shipments dipped 9%. Germany exported goods to the value of €91.7bn and imported commodities to the value of €74.9bn in September 2012. Provisional data shows that German exports fell by 3.4% and German imports by 3.6% in September 2012 on September 2011 while after calendar and seasonal adjustments, exports dropped by 2.5% and imports by 1.6% compared with August 2012. 

The foreign trade balance showed a surplus of €16.9bn in September 2012. In September 2011, the surplus had amounted to €17.3bn. The seasonally adjusted foreign trade balance recorded a surplus of € 17.0bn in September 2012. 

According to data from the Deutsche Bundesbank, the central bank, the current account of the balance of payments showed a surplus of €16.3bn in September 2012, which included the balance of services (+ € 0.5bn), factor income net (+€4.9bn), current transfers (– €3.2bn), and supplementary trade items (– €2.7bn). In September 2011, the German current account had showed a surplus of € 17.0bn. 

In September 2012, Germany dispatched commodities to the value of €52.6bn to the member countries of the European Union while it received commodities to the value of €47.5bn from those countries. Compared with September 2011, dispatches to the EUcountries decreased by 7.0%, and arrivals from those countries by 4.8%. Commodities to the value of €34.5bn (–9.1%) were shipped to Eurozone countries in September 2012, while the value of the commodities received from those countries was €32.7bn (–5.7%). In September 2012, commodities to the value of €18.1bn (–2.7%) were dispatched to EUcountries not belonging to the Eurozone, while the value of the commodities which arrived from those countries was €14.8bn (–2.8%). 

Exports of commodities to countries outside the European Union (third countries) amounted to € 39.2bn in September 2012, while imports from those countries totalled €27.4bn. Compared with September 2011, exports to third countries increased by 1.8% and imports from those countries decreased by 1.4%.

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