German exports rise on the year despite June fall
9 August 2005, BERLIN - Despite sliding in June, German exports jumped by 9.8 per cent year-on-year, data released Tuesday showed.
9 August 2005
BERLIN - Despite sliding in June, German exports jumped by 9.8 per cent year-on-year, data released Tuesday showed.
The figures, drawn up the nation's statistics office, showed imports to Europe's biggest economy rising by 8.1 per cent in June compared to the same month last year as a decline in the euro since the end of last year helped bolster the nation's key export machine.
Germany last year emerged as the world's leading export nation with exports representing the key driving force behind economic growth and helping to offset stagnating domestic demand.
But Tuesday's data showed exports, adjusted for work days and seasonal changes, dipping by 0.4 per cent month-on-month after rising a revised 3.6 per cent in May. Analysts had expected exports to increase by a modest 0.5 per cent in June.
Imports dropped by 5.5 per cent month-on-month in June after the statistics office revised up the May figure to a 5.6 per cent increase.
Subject: German news