The German foreign trade has recovered in may, some of the break-in at the Corona-crisis. The exports rose from the previous month to 9.0 percent, as the Federal Statistical office announced on Thursday in Wiesbaden. The imports increased compared to April to 3.5 percent. The improvements but remained below expectations of the experts. Analysts had exports average of 14.0 percent and 12.4 percent more imports expected.
as compared To the same month last year, the declines of 29.7 percent (exports) and 21.7 percent (imports) are still very high. It shows how strong the foreign trade in Germany continues to suffer under the Corona of a crisis. Particularly strong, exports decreased to the United Kingdom and in the United States. Exports to China declined more moderately.
A similarly dramatic picture of the comparison with the pre-crisis level: compared To February, exports are a total of 26.8 percent lower, the imports have decreased since then, to 18.2 percent. In February, the severe limitations of the public life, with which the Corona should a pandemic be contained in Germany, still in force.
Bank economists interpreted the development of a two-edged sword. In the short-term considerations of the growth of imports and exports has been welcomed, the prolonged viewing, however, was more pessimistic. Although foreign trade have explained to the "valley of tears through," Joerg Zeuner, chief economist of Union Investment. Compared with the previous year, the trade was still very weak.
"A quick recovery, it will not give, because not all of the important economic regions at the same time and from the Corona-crisis", expected Zeuner. Similar to Thomas Gitzel, chief economist of the VP Bank argued. Although the data showed that the international production anlaufe again. "The figures after the epochal crash the previous months, however, it is clear that there is still a long way back to a normal state."Updated Date: 09 July 2020, 11:20