German exports grow at a slower rate

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Foreign trade

German exports grow at a slower rate

The trade with EU countries, Germany’s export economy Running. In other Parts of the world Made in demand “in Germany” for less. This leaves traces in the half-year balance sheet.

German exports have risen in the first half of 2016. From January to June Were worth 603,2 billion Euro were shipped abroad, 1.4 percent more than in the same period last year, as the Federal Statistical office announced on Monday. In the first six months of 2015 of the then weak Euro had provided the German export companies with a strong increase of 7.7 percent compared to the same period last year. Imports rose by only 0.2 percent to 472,4 billion euros. The foreign trade Association BGA called the half-year results “powerless”.

The data for the first half of the year are not yet final, since June so far, only preliminary values are available. Thus, the exports in the previous month, grew for the third month in a row. They were 1.2 percent higher than in June 2015, and reached a value of 106,8 billion Euro.

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“Stable level”

The imports were thus slightly by 0.3 percent to 82.0 billion euros. Thus, the foreign trade surplus in June was just under € 25 billion. Compared to may, exports in June increased by 0.3 percent and imports by 1.0 percent.

In the first half of the year, especially in Germany rose according to the statistics, exports to EU countries outside the Euro zone – so, for example, to the UK, to 5.5 percent. Exports to Euro countries increased, according to the figures, to 2.0 percent. In contrast, the exports decreased in third countries by 1.2 percent.

Also, the increase in imports was from January to June, with 4.7 percent of the largest EU countries that do not belong to the Eurozone. Imports from third countries to Germany declined in the period by 3.2 per cent.

“The success of German foreign trade, the first half of the year weak, but stable level to complete,” concluded the President of the Federal Association of wholesale, foreign trade and services (BGA), Anton Börner. “In the face of uncertainty and risk in the world economic environment we are with this result, not dissatisfied.”

Turkey is Worried about

Börner pointed but at the same time, the fact that an important positive impetus came in the first half of the year, in particular from countries such as the UK. Due to the Brexit vote is to be expected with cooling. Difficulties Börner sees in Turkey: the foreign trade relations with the country were “stable” and “easy”, but the political uncertainties have led to “one stop investment”.

Also from business with Iran after the removal of Western sanctions, Börner showed up disillusioned. The “revival of the Iranian market” do not “have so far included to the extent desired journey”. The reason is the reluctance of banks in the financing of Iran-shops.

whom/ul (dpa, rtr, afpd)