German exports edge up in December on robust China trade
February 09, 2021 @ 10:47 +03:00
German exports rose in December as solid trade with China and the United States helped Europe’s largest economy as it struggles to grow under the restrictions of a lockdown aimed at suppressing the COVID-19 case load. Seasonally adjusted exports edged up 0.1% on the month after an increase of 2.3% in November, the Federal Statistics Office said on Tuesday. Imports fell 0.1% after an increase of 5.4% in the prior month.
The trade surplus expanded to 16.1 billion euros. On the year, exports to China increased by 11.6%. Those to the United States rose by 8.4%, the Office said. Exports to the United Kingdom decreased by 3.3% in December and imports from the United Kingdom fell by 11.4 %.
Official data released on Monday showed Germany’s industrial sector avoided a contraction in December despite coronavirus lockdowns at home and abroad as strong demand from China helped export-oriented manufacturers weather the COVID-19 pandemic. The German government last month slashed its GDP growth forecast to 3% this year, a sharp revision from last autumn’s estimate of 4.4%. This means the economy probably won’t reach its pre-pandemic level before mid-2022.
German exports edge up in December on robust China trade, Reuters, Feb 9