German monthly exports pass EUR 100 billion to set a new record
Sep 08, 2014
Berlin (gtai) - Germany exported goods to the value of 101.0 billion euros (approx. USD 131 billion) in July 2014 – an increase of 8.5 percent on the same period last year – provisional data from the Federal Statistical Office (Destatis) show. This is the highest monthly export value ever reported. Imports were also 1.0 percent higher in July 2014 than July 2013, totaling 77.6 billion euros.
In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 22.2 billion euros in July 2014, the office reports. In the same period last year, the German current account showed a surplus of 12.3 billion euros.
Goods to the value of 35.5 billion euros were dispatched to the Euro area countries in July 2014, up 6.2 percent on July 2013, while goods to the value of 21.4 billion euros were dispatched to EU countries not belonging to the Euro area (+15.9%). Exports of goods to countries outside the European Union amounted to 44.1 billion euros (+7.2%). Imports from the three zones were down 0.5, up 10.3, and down 1.8 percent respectively.
“Passing the symbolic 100-billion-euro mark demonstrates the strength of German industry in these uncertain times,” says Marc Lehnfeld, German market expert at Germany Trade & Invest. “Just last week, the latest data from Destatis revealed growth in new manufacturing orders and turnover. Taken together, these encouraging figures make a positive impression.”