In April 2023, Germany witnessed a 5.7 per cent decrease in exports to non-European Union (EU) or third countries compared to the previous month. The value of goods exported for the month totalled €56.5 billion after calendar and seasonal adjustments, as per the Federal Statistical Office (Destatis).The figures reveal a trend of dwindling export activities, as they also show a 2 per cent decrease compared to the same month a year earlier. When evaluated in original values, exports in April 2023 were down 5.2 per cent year-on-year, standing at €51.5 billion, Destatis said in a press release.
Exports from Germany to non-EU countries in April 2023 decreased by 5.7 per cent compared to March 2023, totalling €56.5 billion. There was also a 2 per cent drop compared to April 2022. Original values showed a 5.2 per cent year-on-year decrease, amounting to €51.5 billion. The decline in exports could impact Germany's trade balance significantly.
The dip in exports is set to affect Germany’s trade balance, as third countries play a crucial role in the country's export market.
Fibre2Fashion News Desk (NB)
