FOREX TradingCharts.com

Financial News: Germany Exports Unexpectedly Fall, Imports Growth Eases

Germany Exports Unexpectedly Fall, Imports Growth Eases

11/09/2021 - 05:49:00 (RTTNews)

(RTTNews) - Germany's exports declined unexpectedly in September and imports registered a marginal growth, official data showed on Tuesday.

Exports declined 0.7 percent on a monthly basis, following a 0.8 percent fall in August, Destatis reported. Shipments were forecast to climb 0.5 percent.

At the same time, imports growth eased sharply to 0.1 percent from 2.1 percent in the previous month. This was also weaker than the expected growth of 0.6 percent.

As a result, the trade surplus decreased to a seasonally adjusted EUR 13.2 billion from EUR 14 billion in the previous month and remained below economists' forecast of EUR 13.6 billion.

Data showed that exports were 0.3 percent lower and imports 7.8 percent higher than in February 2020, the month before restrictions were imposed due to the coronavirus pandemic in Germany.

Year-on-year, exports growth halved to 7.1 percent from 14.5 percent in August and imports grew 12.9 percent, down from 17 percent in the prior month.

On an unadjusted basis, the trade surplus declined to EUR 16.2 billion from EUR 20 billion last year.

The current account of the balance of payments showed a surplus of EUR 19.6 billion versus EUR 25 billion in the same period of 2020.

The drop in German exports in September adds to the evidence that the economy's only growth drivers in the third quarter were private consumption and government expenditures, Carsten Brzeski, an ING economist.

"Looking ahead, we will first need to see industrial production picking up again before exports surge as well," said Brzeski. "For a more fundamental rebound in industrial production and exports, supply chain frictions need to be left behind. This is something we will only see in the course of 2022."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Greek Economic Growth Remains Robust (01 hr(s), 59 min(s), 38 sec(s) ago)
(RTTNews) - Greece's economy continued to grow at a strong pace in the third quarter, underpin ...Full Story»

China Cuts Reserve Requirement Ratio (05 hr(s), 06 min(s), 38 sec(s) ago)
(RTTNews) - China's central bank lowered its reserve requirement ratio for the second time thi ...Full Story»

Egypt Non-Oil Private Sector Shrinks Again (06 hr(s), 18 min(s), 38 sec(s) ago)
(RTTNews) - Egypt's non-oil private sector in November contracted at the same pace as in the p ...Full Story»

Saudi Arabia Non-Oil Private Sector Growth Slows In November (06 hr(s), 17 min(s), 38 sec(s) ago)
(RTTNews) - Saudi Arabia's non-oil private sector growth eased in November, survey results fro ...Full Story»

Italy Retail Sales Growth Slows In October (06 hr(s), 19 min(s), 38 sec(s) ago)
(RTTNews) - Italy's retail sales growth eased in October, data from the statistical office Ist ...Full Story»

Germany Factory Orders Decline More Than Expected (06 hr(s), 39 min(s), 38 sec(s) ago)
(RTTNews) - Germany's factory orders declined more-than-expected in October on weak foreign de ...Full Story»

Eurozone Investor Confidence At 8-Month Low (07 hr(s), 06 min(s), 38 sec(s) ago)
(RTTNews) - Eurozone investor confidence eased to the lowest since last April as tighter lockdown ...Full Story»

Austria Wholesale Price Inflation Rises In November (07 hr(s), 28 min(s), 38 sec(s) ago)
(RTTNews) - Austria's wholesale price inflation continued to increase in November, data from t ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Greek Economic Growth Remains Robust

12/06/2021 - 10:58 AM (RTTNews)
(RTTNews) - Greece's economy continued to grow at a strong pace in the third quarter, underpin ...Full Story>>

China Cuts Reserve Requirement Ratio

12/06/2021 - 07:51 AM (RTTNews)
(RTTNews) - China's central bank lowered its reserve requirement ratio for the second time thi ...Full Story>>

Saudi Arabia Non-Oil Private Sector Growth Slows In November

12/06/2021 - 06:40 AM (RTTNews)
(RTTNews) - Saudi Arabia's non-oil private sector growth eased in November, survey results fro ...Full Story>>

Egypt Non-Oil Private Sector Shrinks Again

12/06/2021 - 06:39 AM (RTTNews)
(RTTNews) - Egypt's non-oil private sector in November contracted at the same pace as in the p ...Full Story>>

Italy Retail Sales Growth Slows In October

12/06/2021 - 06:38 AM (RTTNews)
(RTTNews) - Italy's retail sales growth eased in October, data from the statistical office Ist ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.