German Exports Rose For The Fourth Consecutive Month In August

According to the data released by the Federal Bureau of Statistics recently, Germany's commodity exports rose 2.4% month on month to 91.2 billion euro in August, the fourth consecutive month of growth. However, compared with the previous three months, the increase was still 10.2% lower than that of the same period last year; the volume of imports increased by 5.8% to 78.5 billion euro, compared with the same period last year 9%. Compared with February 2020, Germany's exports and imports in August decreased by 9.9% and 6.4% respectively.

The Federal Bureau of statistics pointed out that compared with the same period last year, imports and exports between Germany and its major trading partners were affected to varying degrees due to the epidemic. Among them, the most stable trade is still China. In August 2020, compared with the same period last year, Germany's export to China only dropped by 1.1% to 7.3 billion euro; the import volume was almost the same as that of the same period last year, reaching 9.4 billion euro. Therefore, China will continue to maintain its position as the largest source of German imports. At the same time, the situation of Germany and other major trading countries in August is still not optimistic, with both import and export volume falling significantly.

Compared with the same period of last year, the import volume to EU member countries and Germany decreased by 10.5% and 10.5% respectively.