BERLIN, Aug. 19 (Xinhua) — The value of German exports fell by 1.6 percent year-on-year in the first six months of the year (H1), while imports dropped by 6.2 percent, highlighting the underwhelming performance of foreign trade in Europe’s largest economy, official data showed on Monday.
In the first three months of the year, Germany exported goods totaling 801.7 billion euros (889.9 billion U.S. dollars). Industrial goods — Germany’s largest export sector — saw reduced overseas demand, with exports of vehicles and vehicle parts, machines, and chemical products all decreasing compared to the same period in 2023, according to the Federal Statistical Office (Destatis).
Germany’s industrial economy has been sluggish for months, with new manufacturing orders down 1.4 percent in the second quarter compared to the first three months of the year. The country’s Federal Ministry for Economic Affairs and Climate Action attributed this weakness to subdued global demand for industrial products.
The ministry noted earlier this month that the German industry is likely to remain sluggish in the coming months due to persistently low business sentiment and weak external demand.
For imports in the first half of the year, Destatis reported that China remained Germany’s most important supplier, with goods valued at 73.5 billion euros, followed by the Netherlands and the United States. (1 euro = 1.11 U.S. dollars)
