Berlin (Reuters) – The German exporters rush from one record to another: The company sold in October, goods worth 103.9 billion euros abroad – more than ever Never in a month.
For the record reached in September was exceeded by 1.4 billion euros, as is evident from the figures published on Tuesday by the Federal Statistical Office. Exports rose by 4.9 percent while 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 Auenhandelschef of German Chambers of Industry and Commerce (DIHK), Volker Treier. At 3.6 percent, exports rose much more slowly than the average of previous years in the first ten months. “The export boom is different,” Treier said. 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.”
IMPORTS FALL NOT EXPECTING MUCH
Monetary union is still the most important German export customer: Nearly 37 percent of exports land there. The record in October but is mainly due to strong demand from non euro-zone members of EU countries, including Poland and the UK belong. 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 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 decline in oil prices, which have fallen by abo ut 30 percent since the summer. “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 very similar to GCIC expert Treier. “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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