German exports at record level foreign trade

samsul55 By samsul55, 8th Nov 2014 | Follow this author | RSS Feed | Short URL http://nut.bz/2dotwk4g/
Posted in Wikinut>Money>Economics

The German export industry is celebrating a remarkable comeback after the slump in holiday month of August exports climb in September the highest ever value.

Germany is still strong economy

Surprisingly fast, the German export from the slump has collected in August. In September, exports increased by 5.5 percent the previous month. Economists estimated the increase to only 2.7 percent. Overall, domestic companies have supplied goods with a total value of 102.5 billion euros abroad that was the highest ever reported month value. The previous record high of July 2014 was again exceeded by 1.4 billion euros. Compared with September 2013, exports increased by 8.5 percent. At the same time, imports increased by 5.4 percent a month earlier. Economists expected a gain of 1.1 percent.

Demand for "Made in Germany"

The unexpectedly strong import-Plus indicates a stronger domestic demand. Compared with the same month last year, imports increased by 8.4 percent to 80.6 billion euros. The demand for products "Made in Germany" developed very strong, especially in countries outside the euro zone. Exports to the EU countries that are not members such as Britain the euro, climbed year on year by 13.8 percent to 22.2 billion euros.

The deliveries to third countries also rose into double digits at 10.5 per cent to 43.8 billion euros. Exports within the monetary union were in September with 36.5 billion euros of 3.4 percent over the previous year. Overall, the data show the positive effect of improving economy in the US and UK as well as the first effects of the last lower external value against the euro.

German export industry

Following the sharp decline in July and August, which is probably partly due to the late holiday, including vacation work in the automotive industry, the German export industry can look back on a successful third quarter total. Exports were up to 2.9 percent over the previous quarter, as Breached Christian Schulz from Bahrenberg Bank: "The good trade data recall that Germany is strong and competitive as before." After conviction of Bayern LB foreign trade supports the German economy as a whole: "Today's trade data support our view that the German economy has not shrunk in the third quarter.

Tags

Economy, German Foreign Trade, German Industry, Germany

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author avatar samsul55
I have a graduate degree in Philosophy. I love to write and to develop friendships all over the world, I hope to add you to my list of good friends.

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Comments

author avatar viewgreen
8th Nov 2014 (#)

Informative article... Thank you for sharing this.

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author avatar samsul55
8th Nov 2014 (#)

Thanks, viewgreen...

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author avatar Fern Mc Costigan
11th Nov 2014 (#)

Awesome post and informative as well, cheers for sharing it!

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