Germany’s exports and imports drop in February
Germany’s exports and imports drop in February
Germany’s exports were worth €88.7bn in February 2013, a fall of 2.8pc over February 2012, according to provision figures released today by Destatis, the Federal Statistical Office.
Over the same period, the country’s imports fell by 5.9pc to €71.9bn.
After calendar and seasonal adjustment, Destatis said exports decreased by 1.5pc and imports were down by 3.8pc compared with January 2013.
Germany’s foreign trade balance showed a surplus of €16.8bn in February 2013. A year previously, the surplus had amounted to €14.9bn.
According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of €16bn in February 2013, which included the balance of services (+€0.4bn), factor income net (+€7.3bn), current transfers (–€6.8bn), and supplementary trade items (–€1.7bn). In February 2012, the German current account showed a surplus of €13.5bn.
In February 2013, Germany’s exports to EU member states were worth €51.5bn, while its imports from those countries amounted to €46.4bn. Compared with February 2012, dispatches to the EU countries decreased by 3.4pc and imports were up by 4.5pc. Commodities to the value of €33.8bn (–4.1pc) were dispatched to the euro area countries in February 2013, while the value of imports from those countries was €32.1bn (–5.7pc).
Exports to countries outside the EU amounted to €37.2bn in February 2013, while imports from those countries totalled €25.5bn euros. Compared with February 2012, this was a 1.9pc drop in exports and an 8.3pc decrease in imports.