Arab Today, arab today rising overseas demand props up german exports
Last Updated : GMT 07:00:44
Arab Today, arab today
Arab Today, arab today

Rising overseas demand props up German exports

Arab Today, arab today

Arab Today, arab today Rising overseas demand props up German exports

Berlin - DW

Germany has avoided falling back into recession in 2012 thanks to robust demand for its goods in countries outside of the EU. In the third quarter, exports made healthy gains in spite of a weaker global economy. In overall third-quarter figures, German exports grew 3.6 percent compared with the same period a year ago, to reach a total of 275 billion euros ($359 billion) between July and September, according to data released by the Federal Statistics Office Tuesday. Deliveries to countries outside of the 27-nation EU even surged by a staggering 9.9 percent, offsetting a 3 percent drop in exports to the crisis-hit eurozone, the agency, also known as Destatis, reported. Demand for German goods and services was especially strong in the United States, where orders climbed by 25.7 percent in the three-month period. Exports to South Korea and Japan also posted major gains of 15.8 and 12.9 percent respectively. China, which suffered a slowdown in growth this summer, took in a modest 0.9 percent more from Germany. By contrast, Germany\'s exports to the debt-laden eurozone members suffered from falling private income and a recession that is said to have been worsened by national austerity programs. Spaniards bought 13.2 percent less from Germany, followed by Italy - down 12.9 percent - and Greece, to which exports tumbled by 6.9 percent. Germany, however, appears increasingly able to de-link itself from the crisis as it increased the non-European share of its total exports from 41 percent to 44 percent in the course of 2012. Robust export growth has helped Germany avoid the type of recession holding most of its fellow eurozone members in tight grip this year, and will boost hopes for a stronger upswing in 2013 amid signs of a global economic recovery.

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