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Germany’s January exports post largest decrease in five months

by ChemOrbis Editorial Team -
  • 09/03/2015 (13:20)
According to data released by Germany’s Federal Statistical Office (Destatis), the country’s exports posted the largest decrease in five months in January. Exports fell 2.1% on a seasonally adjusted basis in January compared with December’s downwardly revised increase of 2.8%. Economists’ initial estimates called for a decline of 1.5% in a survey conducted by Reuters

The data also showed that Germany’s imports declined 0.3%, missing initial estimates which called for a 0.5% increase. The country’s trade surplus reportedly declined to €19.7 billion in January compared with €21.6 billion in the previous month.

Economists commented that the country’s exports are likely to increase on the back of the weakening euro and lower crude oil prices.

In 2014, Germany’s gross domestic product grew 1.6%. The government expects the country’s economy to expand by 1.5% in 2015.
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