German exporters rush from one record to another: The company sold in October, goods worth 103.9 billion euros abroad – so more than ever before in a month. Thus, the record reached in September was exceeded by 1.4 billion euros, as is evident from the figures of the Federal Statistical Office.
Exports rose rose by 4 , 9 percent for October 2013 – despite crises such as the Ukraine and the Middle East. However, the cheers of the economy over the record has its limits.
“The bottom line is that we see this year, a juice-less lateral movement,” said the foreign trade chief of the German Chamber of Commerce (DIHK), Volker Treier. At 3.6 percent, exports rose in the first ten months significantly slower than the average of previous years.
“The export boom is different,” said Treier , This is due above all to the Euro-zone as hoped’m going. Although there are bright spots in crisis countries such as Spain, Ireland, Greece and Portugal. “But the picture is clouded by the difficult situation in France and Italy.”
The Monetary Union is still the most important German export customer: Nearly 37 percent of exports land there. The record in October, but especially the strong demand due from non-euro-zone members of EU countries, including Poland and Great Britain are.
The Exports to have increased by 7.6 percent, while exports grew by only 1.9 percent in the euro area. Sales to countries outside the European Union such as the US and China has risen by 6.3 percent.
Compared to the previous month, exports shrank Calendar and by a seasonally adjusted 0.5 percent. Economists had expected, however, three times a sharp decline. Imports fell 3.1 percent the previous month, however, twice as much as expected.
One reason is the falling oil price since the summer of about 30 percent gave in. “Germany benefited a great importer of very low prices because they relieve businesses and consumers,” said economist Christian Schulz of Berenberg Bank. However, the weak imports are also a sign of weakness in domestic demand.
This looks GCIC expert Treier quite similar. “Behind this is too low propensity to invest in Germany,” he said. Due to uncertain market opportunities and the threat of pollution owing to policy decisions, such as the introduction of the minimum wage or pension at 63, many companies were currently hold back.
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