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Lowest growth of German exports in five years

In the year 2008 German exports grew as little as in the year 2003 for the last time. According to the Federal Statistical Office, Germany exported and imported goods to the value of 992.7 billion Euros and 814.5 billion Euros respectively. This corresponded to an increase of 2.8% with regard to exports and of 5.8% with regard to imports as compared to the year 2007. At the same time the foreign trade balance surplus fell from 195.3 billion Euros in the year 2007 to 178.2 billion Euros last year.

According to preliminary calculations by the German Bundesbank, the German balance of current accounts closed with a surplus of 162.5 billion Euros in 2008 following 188.8 billion in 2007.

To member states of the European Union German exports amounted to 630.8 billion Euros and imports from these countries to Germany to 522.6 billion in the year 2008. This corresponded to growth rates of 1.1% and 5.1% respectively as compared to the year 2007.

To non-EU countries Germany exported goods to the value of 361.9 billion Euros. Imports from these countries totalled 291.9 billion Euros. This corresponded to growth rates of 6.0% and 7.1% respectively as compared to the previous year.

In December 2008 Germany exported 67.4 billion Euros worth of goods (-7.7% compared to December 2007) and imported goods to the value of 60.4 billion Euros (-3.3%).

Between November and December 2008 German exports fell by 3.7% and imports by 4.1%.

According to the Federal Statistical Office, the above figures are still preliminary for the time being. GERMAN