Strong euro applies brakes to German exports

10th December 2007, Comments 0 comments

German exports in October rose by comparison with the same month last year, but at a slower rate than before, according to figures published by the governement.

10 December 2007

Wiesbaden, Germany (dpa) - German exports in October rose by comparison with the same month last year, but at a slower rate than before, according to figures published Monday by the statistics office in Wiesbaden.

October exports stood at 88.9 billion euros ($130 billion), 6.3 percent up October last year. Exports to the European Union continued their upward course, while exports outside the EU declined slightly.

Imports rose 5.2 percent on the year to 70.1 billion euros.

On a seasonally adjusted basis, there was little change from September, with exports rising 0.6 percent on the month and imports 0.2 percent.

The October balance of trade was thus 18.7 billion euros in surplus, up from a surplus of 17.0 billion in October last year.

Taking services and transfers into account, the current account showed a surplus of 13.7 billion euros in October, up from 12.9 billion a year earlier.

Exports of goods to the EU came in at 57.6 billion euros, up 10.8 percent on October last year.

Exports outside the 27-member bloc totalled 31.3 billion euros, a decline of 1.1 percent.

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