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Germany sees sharpest export drop
By Geir Moulson |
January 9, 2009, Friday
|
Print Edition
Print Edition
GERMANY saw its sharpest monthly drop in exports in November since the country's reunification in 1990, official estimates showed yesterday, underlining the urgency of government efforts to put together a new multibillion-euro stimulus plan for Europe's biggest economy.
German exports fell 10.6 percent from October and 11.8 percent from November last year, the Federal Statistical Office said. Exported goods and services were worth 77.1 billion euros (US$104.7 billion) in November, or 75.4 billion euros in calendar and seasonally adjusted terms.
Germany is one of the world's top exporters, and foreign trade has been a key driver of its economy.
But the economy went into recession in last year's third quarter due to the global economic crisis, and is seen to fall further this year as demand for its products drops within the country and globally.
German exports fell 10.6 percent from October and 11.8 percent from November last year, the Federal Statistical Office said. Exported goods and services were worth 77.1 billion euros (US$104.7 billion) in November, or 75.4 billion euros in calendar and seasonally adjusted terms.
Germany is one of the world's top exporters, and foreign trade has been a key driver of its economy.
But the economy went into recession in last year's third quarter due to the global economic crisis, and is seen to fall further this year as demand for its products drops within the country and globally.
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