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October 21, 2019

German exports lost speed in February 2018

German exportsGerman exports lost speed in February, according to the latest official data. The German exports value grew by 2.4% in February compared to the same month last year, reaching a total of 104.7 billion EUR (129 billion USD). In January, exports rose by 8.6% on an annual basis. Reported on a monthly basis in February, exports dropped by 3.2%, mainly due to lower supplies to non-EU countries.

The imports to Germany have increased by 4.7% yoy to 86.3 billion EUR.

As a country, which economy is highly export-oriented, Germany has a strong concern about possible violations of world trade and global economic growth, including the threat of a US-China trade war.

Recent activity data in the German industry sector was revised downwards to 58.2 points versus 58.4 in pre-reading. Thus, the latest country results show the weakest activity in manufacturing activity in eight months. In Germany, orders grew at their slowest pace in the last 16 months, mainly due to fewer orders from foreign markets.

The data also has a weakening of employment, and average delivery times are rising at a record pace. However, inflationary pressures are decreasing, but optimism about the outlook for growth during the year is at its lowest level in 18 months.

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