German June exports fall

Dhaka,  Thu,  21 September 2017
Published : 08 Aug 2017, 15:28:43

German exports post sharpest fall in June

German June exports fall
German imports fell more sharply than exports in June, pushing the trade balance to a 10-month high, data showed on Tuesday.

The data are likely to increase criticism of conservative Chancellor Angela Merkel, who is expected to win a fourth term in an election next month, for not boosting investments enough as a way to increase imports.

Seasonally adjusted exports dropped by 2.8 per cent, the sharpest fall since August 2015 that ended five consecutive months of growth. 

Imports were down 4.5 per cent, the biggest drop since January 2009, data from the Federal Statistics Office showed.

Both figures confounded expectations in a Reuters poll that had pointed to exports edging down 0.3 per cent and imports rising by 0.2 per cent.

Analysts interpreted the drop in both exports and imports as a technical correction after five months of growth fueled by strong demands for German goods from within and outside of the euro zone.

The figures are likely to prompt more criticism of Germany's export strength after the International Monetary Fund last month repeated its call for the government to increase investment as a way to reduce its current account surplus, increase imports and support the economic recovery in other countries, according to Reuters.
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