German Exports Continue To Rise

German exports, long the mainstay of the national economy, rose for a third month in four in August according to data released today from the Federal Statistical Office. The year on year increase of 13.4% is partly a reflection of the way the recent drop in the value of the euro has helped boost demand.

According to provisional data of the Federal Statistical Office, Germany exported commodities to the value of EUR 63.4 billion and imported commodities to the value of EUR 51.9 billion in August 2005. German exports of August 2005 thus were 13.4% and imports 15.3% above the respective August 2004 levels. Upon calendar and seasonal adjustment, exports increased by 3.5% and imports by 6.0% compared with July 2005.

The foreign trade balance showed a surplus of EUR 11.6 billion in August 2005. In August 2004, the foreign trade balance showed a surplus of EUR 11.0 billion. Upon calendar and seasonal adjustment, the foreign trade balance showed a surplus of EUR 12.7 billion in August 2005.

While exports power ahead the continuing weaknesses in domestic consumer demand and investment are to be seen in the fact that German industrial production fell 1.6 percent in August while factory orders fell 3.7 percent.

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About Edward Hugh

Edward 'the bonobo is a Catalan economist of British extraction. After being born, brought-up and educated in the United Kingdom, Edward subsequently settled in Barcelona where he has now lived for over 15 years. As a consequence Edward considers himself to be "Catalan by adoption". He has also to some extent been "adopted by Catalonia", since throughout the current economic crisis he has been a constant voice on TV, radio and in the press arguing in favor of the need for some kind of internal devaluation if Spain wants to stay inside the Euro. By inclination he is a macro economist, but his obsession with trying to understand the economic impact of demographic changes has often taken him far from home, off and away from the more tranquil and placid pastures of the dismal science, into the bracken and thicket of demography, anthropology, biology, sociology and systems theory. All of which has lead him to ask himself whether Thomas Wolfe was not in fact right when he asserted that the fact of the matter is "you can never go home again".