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German Exports Are Slowly Recovering From The Slump
German exports are slowly recovering from the slump caused by the corona crisis and rose for the fourth month in a row.
Yazar: Tom Roberts
Yayınlanma: 8 Ekim 2020 21:52
Güncellenme: 23 Aralık 2024 05:58
German Exports Are Slowly Recovering From The Slump
German exports are slowly recovering from the slump caused by the corona crisis and rose for the fourth month in a row. In August, exports of goods, compared to the previous month after adjusting for seasonal and calendar effects, increased by 2.4% to + 4.7% in July, according to the Federal Statistical Office Destatis. Imports increased by 5.8% after +1.1. Germany's foreign trade surplus in August reached 12.8 billion euros and, after adjusting for seasonal and calendar effects, 15.7 billion euros. According to the German central bank, the current account surplus of the balance of payments reached 16.5 billion euros in August. Year-on-year, exports rose by 10.2% to 91.2 billion euros and imports fell by 7.9% to 78.5 billion euros. The temporary closure of borders and the interruption of supply chains at the beginning of the new coronavirus pandemic caused a shock to German exports. Despite the recovery in recent months in August, its volume was still 9.9% lower compared to February, just one month before the start of the adoption of restrictions to halt the spread of the new coronavirus.İLGİLİ HABERLER
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