german trade surplus hits 3 year high
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

German trade surplus hits 3 year high

Arab Today, arab today

Arab Today, arab today German trade surplus hits 3 year high

Frankfurt - AFP

Record exports pushed Germany's trade surplus to a three-year high in September, data showed on Tuesday, as Europe's biggest economy remains resilient to the eurozone debt crisis -- at least for now. Germany exported goods worth a total 91.3 billion euros ($125 billion) in September, 0.9 percent more than in August and the highest level since unification, according to seasonally-adjusted data compiled by the national statistics office Destatis. At the same time, imports fell by 0.8 percent to 76.1 billion euros so that the seasonally-adjusted trade surplus increased to 15.2 billion euros, the biggest number since October 2008. Exports to Germany's fellow members in the EU and the eurozone -- which account for nearly two thirds of foreign trade -- increased by 9.5 percent on a 12-month basis, but exports to the rest of the world also rose by 10.1 percent, the statisticians calculated. Taking the nine months to September, exports were up 13.5 percent over the year-earlier period at 791.7 billion euros, while imports grew by 15.3 percent at 672.8 billion euros, leaving a nine-month trade surplus of 118.9 billion euros. Analysts said the figures came as positive surprise following the raft of negative data recently. "In real terms, net exports are set to contribute about 0.2 percentage points to German gross domestic product growth in the third quarter, which we forecast at 0.5 percent," said Barclays Capital economist Thomas Harjes. While the German economy could contract slightly in the fourth quarter, "we still expect a modest recovery in economic activity in early 2012, driven by more robust US and Asian demand," Harjes said, adding that the export data provided "some comfort." Commerzbank economist Ulrike Rondorf also said Germany's export strength "is surprising once again." Nevertheless, fewer orders from abroad already suggested that export growth was likely to weaken noticeably in the coming months, she said. "A recession in the euro zone will not leave Germany completely unscathed," the analyst said. "Germany is profiting from its competitiveness and is still gaining market shares. That said, there are no grounds for any celebrations yet. The slump in sentiment indicators and weaker order intake from abroad suggest much lower export growth in the coming months," Rondorf cautioned. Peter Kaidusch, eurozone economist at Natixis, also pointed to the latest industrial orders and output data, which had come out weaker, and falling sentiment indicators. "Thus, there should be a 'soft landing' in the current fourth quarter," the economist concluded.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german trade surplus hits 3 year high german trade surplus hits 3 year high

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german trade surplus hits 3 year high german trade surplus hits 3 year high

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday