Frankfurt (Germany) (AFP) – German exports rose more than expected in September on strong demand from other European countries, official data showed Monday, the latest positive sign for the manufacturing powerhouse. Exports increased two percent from the previous month to 141.1 billion euros ($158 billion), rebounding after two months of declines, statistics agency Destatis said. That was above a rise of 0.5 percent forecast by analysts surveyed by the financial data firm FactSet.
It follows recent positive growth and manufacturing data, fuelling hopes that Europe’s biggest economy has turned a corner after a long period of stagnation. The September export data was lifted by a 3.5 percent increase in shipments to other European Union countries, according to the provisional data from Destatis. But exports to China fell over five percent, extending a downward trend as the country’s manufacturers increasingly compete with German companies in sectors ranging from automobiles to chemicals. Shipments to the United States, the biggest destination for German goods, slipped by 0.5 percent. Germany’s trade with the world’s largest economy has been hit hard by US President Donald Trump’s tariff blitz.
Imports rose 4.2 percent in September from the previous month to 125.5 billion euros, and Germany’s trade surplus narrowed to 15.6 billion euros. Despite higher energy prices triggered by the US war against Iran, the German economy is expected to grow in 2026 at its fastest pace in several years, lifted by higher government spending on defence and infrastructure. sr/fz/js
© 2024 AFP
