German June exports demonstrate the sharpest dip in two years

German June exports demonstrate the sharpest dip in two years

In June, German imports descended more steeply than exports, pushing the trade balance to a 10-month maximum, as Tuesday’s data disclosed.

The data will probably spur criticism of conservative Chancellor Angela Merkel, expected to grasp a fourth term next month, for not stimulating investments enough as a way to step up imports and back other countries.

Seasonally adjusted exports went down by 2.8%, which is the steepest drop since August 2015, which concluded five consecutive months of surge. Imports slid 4.5%, which is the biggest loss since January 2009, as data from the Federal Statistics Office disclosed.

Both figures ruined hopes in a Reuters survey, which had pointed to exports sagging 0.3%, and imports ascending by 0.2%.

Financial experts consider the decline in both imports and exports to be a technical correction after five months of surge powered by firm demands for German goods from within and also outside of the euro zone.

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera