German exports fall by 7.5% YoY, imports drop by 16.6 % YoY during Sep

Based on provisional data, the Federal Statistical Office (Destatis) reported that exports decreased by 7.5 per cent and imports fell by 16.6 per cent year on year (YoY) during the month.

After calendar and seasonal adjustment, Germany exported goods worth €126.5 billion and imported goods to the value of €110 billion in September.

The foreign trade balance showed a surplus of €16.5 billion in September. The calendar- and seasonally-adjusted surplus stood at €17.7 billion in August this year and €5 billion in September.

On a calendar- and seasonally-adjusted basis, Germany exported goods worth €69.8 billion to the member states of the European Union (EU) in September, while it imported goods worth €58.7 billion from these countries in that period.

Compared with August this year, calendar- and seasonally-adjusted exports to EU nations dropped by 2.1 per cent and imports from these countries fell by 2.6 per cent.

The value of the goods exported to euro area countries in September totalled €48.8 billion (minus 2.4 per cent), and the value of the goods imported from these countries was €38.9 billion euros (minus 3.8 per cent).

Exports of goods to countries outside the non-EU countries amounted to €56.7 billion in September, while imports from these countries totalled €51.3 billion on a calendar- and seasonally-adjusted basis. Compared with August this year, exports to non-EU countries declined by 2.8 € and imports from such countries fell by 0.6 per cent.

Most German exports in September were to the United States. After seasonal and calendar adjustment, exports of goods to the United States during the month were down by 4 per cent compared with August, with the value of exports dropping to €12.8 billion.

Exports to China fell by 7.3 per cent to €7.7 billion and exports to the United Kingdom rose by 2.3 per cent to €6.3 billion.

Most imports during the month were from China. Goods to the value of €13 billion were imported from there, representing a 0.9-per cent decrease month on month (MoM) after calendar and seasonal adjustment.

Imports from the United States rose by 0.5 per cent to €7.7 billion. Imports from the United Kingdom increased by 5.2 per cent to €3.2 billion during the month.

Exports to Russia in September this year declined by a calendar- and seasonally-adjusted 11.2 per cent MoM to €0.6 billion and by 41.7 per cent YoY. Imports from Russia rose by 7.5 per cent MoM to €0.2 billion, and were down by 89.4 per cent YoY.

Germany exported goods worth €129.2 billion and imported goods worth €110.2 billion on a nominal basis in September this year. The export figure was a 10.5 per cent YoY fall and the import figure was a 18.5 per cent YoY fall.

Fibre2Fashion News Desk (DS)