Thursday June 24th 2021
The stock market day
German exports to the USA and China are increasing sharply
The German exports in the world’s largest economies, the USA and China, rose sharply in May thanks to the recovery from the Corona crisis. Exports to the United States grew by 40.9 percent year-on-year to 9.1 billion euros, according to the Federal Statistical Office. Goods to the value of 8.4 billion euros were exported to the People’s Republic, an increase of 17.7 percent. Business with Great Britain is also picking up again: exports there increased by 44.6 percent to 5.0 billion euros. A year earlier, foreign trade had suffered from the global corona recession, and that with the United Kingdom also from the uncertainty about Brexit.
Overall, exports to countries outside the European Union grew by 27.9 percent in May compared to the same month last year to 48.4 billion euros. Measured against the previous month of April, calendar and seasonally adjusted, however, there was an expected decrease of 3.0 percent. Trade with so-called third countries covers an average of around 47 percent of all German exports.