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October 8, 2010    

German exports fall for second consecutive month

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by Kay Murchie
German exports fall for second consecutive month

Germany’s statistics office, Destatis, today revealed exports fell 0.4% in August compared with July to €81.8 billion (£71.7 billion).

It was the second consecutive month in which exports dropped and could raise doubts about the strength of the recovery in the euro zone’s largest economy.

Export demand helped to bring Germany out of recession in the second quarter of last year – much sooner than many of its counterparts throughout the world.

Its recovery has been led by exports but recent falls led Germany to lose its status as the world’s largest exporter as China overtook it in this field.

Meanwhile, German imports grew by 0.9% to €70.1 billion, Destatis said.

Germany’s trade surplus dropped to €9 billion from €13.5 billion the previous month. The forecast had been for a drop to €12.6 billion.

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