Tuesday 08, August 2017 by William Mullally

Germany sees drop in exports

Mihir Kapadia, CEO and Co-Founder, Sun Global Investments

In Germany, the country has reported a 2.8 per cent decline in exports for June, the biggest monthly drop since August 2015, and ends a five-month run of growth. Meanwhile, German imports shrank by 4.5 per cent during the month - the biggest drop since January 2009 when the world economy was sliding into recession. This has now driven the trade surplus up to EUR 21.1 billion, from EUR 20.3 billion in May, a 10-month high.

As economists had expected exports to dip by 0.3 per cent and imports to rise by 0.2 per cent, the below par performance will once again ignite criticism that Germany is destabilising the global economy (and contributing to the EU’s woes) by running such a large trade surplus.

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