World News

Thursday 31 July 2014

Exports from Germany down by 3.4%

Published 08/01/2013|08:14

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Exports from Germany are down, the country's experts have said

Exports from Germany, Europe's biggest economy, were sharply lower in November compared with the previous month amid economic weakness elsewhere on the Continent.

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The Federal Statistical Office said exports - a traditional strength of the German economy - dropped 3.4%. Adjusted for seasonal and calendar factors, they totalled 89.6 billion euros (£72.9 billion). Imports were down 3.7% at 75.1 billion euros (£61.1 billion).

Growth in Germany slowed in 2012 after two strong years, but the economy is expected to pick up after a weak fourth quarter and continue growing in 2013.

Compared with a year earlier, exports were unchanged in November. A 5.7% decline in exports to other countries in the 17-nation eurozone contrasted with a 5.6% increase in those to nations outside the European Union.

Press Association

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