German Imports Hit Record Level in June
Germany exported commodities to the value of EUR 86.5 billion and imported commodities to the value of EUR 72.4 billion in June 2010. Hence, German exports increased by 28.5% and imports by 31.7% in June 2010 on June 2009. This was the highest monthly export value reported since October 2008 (EUR 88.7 billion). The import value for June 2010 was the highest ever reported since foreign trade statistics have been compiled for the Federal Republic of Germany in 1950.
According to the Federal Statistical Office (Destatis), the foreign trade balance showed a surplus of EUR 14.1 billion in June 2010, compared to a surplus of EUR 12.3 billion reported in June 2009.
Upon calendar and seasonal adjustments, exports increased by 3.8% and imports by 1.9% on May 2010, and the foreign trade balance recorded a surplus of EUR 12.3 billion in June 2010.
According to provisional results of Deutsche Bundesbank, the balance of current accounts showed a surplus of EUR 12.9 billion in June 2010, including the balance of services (– EUR 1.1 billion), factor income (+ EUR 3.3 billion), current transfers (– EUR 2.5 billion) and supplementary trade items (– EUR 0.9 billion). In June 2009, the German current account surplus was EUR 12.8 billion.
Germany dispatched in June 2010 commodities to the value of EUR 52.6 billion to the Member States of the European Union (EU) while receiving commodities to the value of EUR 45.9 billion from them. Compared with June 2009, dispatches to the EU countries increased by 23.5% and arrivals by 26.1%. Commodities to the value of EUR 35.7 billion (+22.0%) were dispatched to the euro area countries in June 2010, with the value of the commodities received from such countries being EUR 32.5 billion (+25.4%). In June 2010, commodities to the value of EUR 16.9 billion (+26.6%) were sent to those EU countries which do not form part of the euro zone, with the value of incoming commodities from such countries amounting to EUR 13.4 billion (+27.8%).
Exports of commodities to countries outside the European Union (third countries) reached EUR 33.8 billion in June 2010, and imports from those countries totalled EUR 26.4 billion. Against June 2009, exports to third countries grew 37.3% and imports from these 42.8%.
More details which are classified into countries and months are listed on: Destatis – exports and imports
Related posts:
- German Exports to China Unaffected by Crisis
- Exports to China up 14.5 Percent
- 15 Years of NAFTA
- France Remains No 1 Trading Partner
- German Export Performance: 2000 – 2009
- 72 Percent of All Imports from Europe
- France: Record Deficit in Foreign Trade
Comments
One Response to “German Imports Hit Record Level in June”
Leave a Reply
[...] German Imports Hit Record Level in June | All about Sourcing [...]