German exports to United States and China jump, underpinning recovery
Reuters
Published May 20, 2021 03:34AM ET
BERLIN (Reuters) - German exports to the United States and China jumped on the year in April, data showed on Thursday, suggesting that strong demand from abroad is helping Europe's largest economy recover from last year's coronavirus slump.
Exports to the United States, Germany's biggest sales market outside the European Union, soared by 60.4% year-on-year in April to 10.1 billion euros ($12.31 billion), preliminary trade figures from the statistics office showed.
Exports to China, Germany's second largest exports destination outside the EU's single market, rose by 16.3% to 8.4 billion euros, the office said.
Exports to Britain jumped by 58.6% on the year to 5.1 billion euros.
Overall, exports to non-EU countries rose by 35.6% on the year to 50.8 billion euros.
The statistics office said that the year-on-year figures for April were strongly impacted by the first coronavirus wave in 2020 which had pushed down exports compared to April 2019.
It added that exports to non-EU member states, also called third countries, accounted for roughly 47% of overall exports. This means that more than half of Germany's exports still go to clients within the EU's single market despite Britain's exit.
"When comparing with the same month of the previous year, it should be noted that German exports to third countries in April 2020 fell by 27.1% compared to April 2019 in the wake of the coronavirus crisis," the statistics office said.
The statistics office will release its full trade figures for April, including sales to other EU countries, on June 9.
($1 = 0.8205 euros)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.