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Tuesday, October 09, 2007

German Exports August 2007

It is important to bear in mind that the data mentioned in the last post referred to future orders, not work already completed. In fact German exports rose at the fastest rate since April in August, according to data released today by the Federal Statistics Office:

According to provisional data of the Federal Statistical Office, Germany exported commodities to the value of EUR 77.7 billion and imported commodities to the value of EUR 63.6 billion in August 2007. German exports of August 2007 were thus 12.4% and imports 9.5% above the respective August 2006 levels. Upon calendar and seasonal adjustment, exports increased by 3.0% and imports by 5.6% on July 2007.

The foreign trade balance showed a surplus of EUR 14.1 billion in August 2007. In August 2006, the surplus amounted to EUR 11.0 billion. Upon calendar and seasonal adjustment, the foreign trade balance recorded a surplus of EUR 15.3 billion in August 2007.

Here's the chart in value terms.

And here are the year on year growth rates. Obviously we have slowed somewhat from the end of 2006, but tha rate of growth is still pretty health. This big question is, of course, what happens next?

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