German exports fell by the most since the days of achieving a record high in 2009 - a sign that Europe's largest economy felt the slowdown in world trade.
According to the Federal Statistics Office of Germany, foreign sales were down 5.2 percent in August compared to the previous month. This is the maximum decline from January 2009. The median forecast of economists in a Bloomberg survey was a drop of 0.9 percent. Import Germany fell by 3.1 percent. Germany was faced with the consequences of the economic slowdown in China - the third largest trading partner of the country - as well as other developing countries, which have been key destinations for German exports.
After the release of the data, the euro fell slightly. As of 9:30 am in Frankfurt, the euro traded 0.6 percent lower at $ 1.1303 near. The German DAX index fell 0.6 percent to 9 913. In the eight months to August, German exports grew by 6.6 percent compared with the same period a year earlier; import - by 3.5 percent. The country's trade surplus narrowed from 25 billion euros in July to 15.3 billion euros ($ 17.2 billion), while the current account surplus declined from 24.7 billion to 12.3 billion euros.
According to the materials WELTRADE