Home breadcru News breadcru Import/Exports breadcru German exports to non-EU nations dip 2.9% in July 2023

German exports to non-EU nations dip 2.9% in July 2023

24 Aug '23
1 min read
Pic: Shutterstock/s_oleg
Pic: Shutterstock/s_oleg

Insights

  • German exports to non-EU countries declined 2.9 per cent month-on-month in July 2023, totalling €59.0 billion after adjustments, as per Destatis.
  • Despite this drop, there was a slight year-on-year increase of 1.1 per cent on a seasonally adjusted basis and 1.2 per cent in original values.
  • Destatis suggests the decline may reflect global trade dynamics.
German exports to non-European Union (EU) countries faced a decrease of 2.9 per cent month-on-month (MoM) in July 2023, as per the Federal Statistical Office (Destatis). The value of exports to third countries amounted to €59.0 billion after seasonal and calendar adjustments.

Despite the monthly drop, the figures showed a slight improvement on the same month a year earlier, with an increase of 1.1 per cent on a calendar and seasonally adjusted basis, and a 1.2 per cent increase in original values, Destatis said in a press release.

The decline in July comes after previous gains and could reflect challenges in global trade dynamics or other economic factors impacting Germany’s export activities.

ALCHEMPro News Desk (NB)

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