German foreign trade without summer break

Without taking a summer break the German foreign trade continues flourishing and showed impressive two-digit growth rates in August too. This was announced yesterday by the German Association for wholesale and foreign trade (BGA) on the occasion of the publication of foreign trade figures. Exports to EU countries not forming part of the Eurozone grew most at 14%.

Previously the Federal Statistical Office had published provisional figures on the German foreign trade for August 2007. They showed that in August goods amounting to the value of 77.7 billion Euros and 63.6 billion Euros were exported (+12.4%) and imported respectively. Thus, the foreign trade surplus was 14.1% higher than in the same period last year in figures adjusted for calendar and season. Exports to EU countries grew by 11.8% and those to third party countries even by 13.4%. Imports from third party countries to Germany, however, increased by just 2.5%.

According to the BGA these positive figures show that the German foreign trade is well prepared due to its innovative products and that the good development of the world economy outweighs the strong Euro. GERMAN