German exports surge

9th June 2004, Comments 0 comments

9 June 2004 , WIESBADEN - Germany's export machine rolled into high gear in April according to government data released Wednesday that showed a 15.7 percent increase from last April to EUR 62.1 billion. The Federal Statistics Office said imports rose 6.8 percent year- on-year to EUR 47.5 billion.

9 June 2004

WIESBADEN - Germany's export machine rolled into high gear in April according to government data released Wednesday that showed a 15.7 percent increase from last April to EUR 62.1 billion.

The Federal Statistics Office said imports rose 6.8 percent year- on-year to EUR 47.5 billion.

The resulting EUR 14.6 billion trade surplus in the month compared with EUR 9.2 billion in April 2003.

For the first four months of 2004, German exports totalled EUR 239.3 billion, up almost 11 percent from the EUR 216.5 billion in the same period last year.

Imports, at EUR 183.5 billion, were up about 3 percent from EUR 178.0 billion in the January-April 2003 period.

At EUR 55.8 billion, the trade surplus in the first four months of 2004 was roughly 50 percent more than the EUR 38.5 billion figure in the same period last year, the office reported.

The robust trade surplus more than offset Germany's traditional deficit in services and transfers, so that the balance on current accounts showed a four-month surplus of EUR 31.5 billion, dwarfing the EUR 12.4 billion figure in the January-April 2003 period.

The overall figures show that the foreign trade remains the one vital sector for Germany, which is having trouble getting its domestic economy moving again, analysts noted.

The appreciation of the euro was apparently having no adverse impact on exports.

The office figures showed that exports to other European Union partners in April were up 13.7 percent at EUR 34.0 billion. Outside the EU, exports totalled EUR 28.1 billion, up 18.2 percent on April 2003.

In addition the statistics office reported Germany's annual rate of inflation in May was 2.0 percent, which was a rare downward revision of its preliminary figure.

The office cited rising oil prices for the fact that the rate was well above the 1.6 percent rise in April. In March annual inflation was at 1.1 percent.

Late last month the office had reported a preliminary figure of 2.1 percent inflation for May, based on price data from six key states which make up the bulk of the German economy.

DPA

Subject: German news 

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