Foreign trade in 3rd quarter of 2009: Exports down 19.0%
Exports to Chinaincreasing
WIESBADEN – As reported by the Federal Statistical Office (Destatis), German exports in the third quarter of 2009 were down a total 19.0% compared with the same quarter a year earlier, reaching Euro 200.2 billion. When price-adjusted, exports decreased 16.5%. Dispatches of goods to EU member states were down a nominal 18.4% to Euro 126.5 billion, which was nearly the same decrease as that of total German exports. The decrease in dispatches of goods to the euro area was –17.2%, with a total value of Euro 85.1 billion, and was thus smaller than the decrease in exports to EU countries not belonging to the euro area (–20.7%). Commodities to the value of Euro 41.4 billion were dispatched to the latter countries. Above-average drops were recorded for exports to Spain (–23.4%), Hungary (–33.6%) and Poland (–23.9%). German exports to countries outside the EU (“third countries”) were down by about one fifth (–20.1%) compared with the same quarter of the previous year, which was a slightly larger decrease than that for total exports: Their value was Euro 73.7 billion in the third quarter of 2009. Dispatches to Russia shrank above average (–41.0% to Euro 5.1 billion), exports to the Ukraine fell by nearly a half (–48.7%) to Euro 0.9 billion. Exports to the United States were down by almost one third (–31.1% to Euro 12.2 billion), while dispatches to Japan decreased 12.3% to Euro 2.8 billion, which was similar to the decrease in exports to Switzerland (–12.7% to Euro 8.4 billion). Hardly any fluctuations were recorded for exports to India (–1.7% to Euro 2.0 billion), whereas dispatches to China even increased by 14.5% to Euro 9.8 billion.
