German exports slip, imports gain

9th January 2004, Comments 0 comments

9 January 2004 , WIESBADEN - German exports slipped on a year-on-year basis in November, indicating that the rise of the euro was starting to impact on export performance, data from the Federal Statistics Office showed Friday. The Wiesbaden-based office said exports in November, at EUR 58.7 billion, were down by 0.3 percent on November 2002 levels. Imports, at EUR 48.4 billion, were up 3.7 percent from the year-earlier levels, the office reported. With the export drop and import gain, the trade surplus in

9 January 2004

WIESBADEN - German exports slipped on a year-on-year basis in November, indicating that the rise of the euro was starting to impact on export performance, data from the Federal Statistics Office showed Friday.

The Wiesbaden-based office said exports in November, at EUR 58.7 billion, were down by 0.3 percent on November 2002 levels.

Imports, at EUR 48.4 billion, were up 3.7 percent from the year-earlier levels, the office reported.

With the export drop and import gain, the trade surplus in November fell to EUR 10.4 billion compared with EUR 12.3 billion in November 2002, the figures showed.

At the same time, the current accounts surplus also declined, to EUR 6.2 billion in November 2003, compared with EUR 9.3 billion in the same month a year earlier.

An indication of how the euro's rise against the dollar had affected trade performance was seen in the breakdown of trade patterns with the eurozone countries and with non-euro partners.

Exports to the eurozone partner countries in November were up 4.6 percent year-on-year, while imports were up 7.2 percent.

By contrast, exports to third countries outside the euro area dropped by 4.8 percent, while imports gained 3.4 percent, the office figures showed.

DPA
Subject: German news 

 

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