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Friday 11th of February 2011
February 9, 2011    

German exports up 0.5% in December

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by Kay Murchie

Statistics office Destatis has revealed German exports rose 0.5% in December on a monthly basis - albeit half the 1% rise expected by analysts.

However, for the 2010 year, exports were up 18.5% to €951.9 billion. The figures sent the euro slightly higher to $1.3651 from $1.3627 late Tuesday.

Germany is the world’s second largest exporter after China and export demand helped to bring Germany out of recession in the second quarter of 2009 – much sooner than many of its counterparts throughout the world.

Meanwhile, imports fell 2.3% in December - partially wiping out the 4.1% rise reported in November. Analysts had expected a 0.8% rise.

However, for the 2010 year, imports were 20% up on 2009 levels.

The trade balance showed a surplus of €11.9 billion for December - in line with expectations but narrower than the €13.1 billion surplus the previous month.

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