German foreign trade gaining momentum in March

According to provisional calculations by the Federal Statistical Office, German exports amounted to 70.3 billion Euros and imports to 59.0 billion Euros in March 2009. Thus, even though exports and imports were down by 15.8% and 11.6% respectively in March as compared to March last year, they increased in comparison with February this year by 0.7% and 0.8% respectively (after adjustment for calendar and season).

The German foreign trade balance closed with a surplus of 11.3 billion Euros in March following a surplus of 16.8 billion Euros in March last year. After adjustment for calendar and season the foreign trade balance surplus reached 8.9 billion Euros in March 2009.

German exports to member states of the EU amounted to 44.9 billion Euros while imports from these countries to Germany reached 38.7 billion Euros. Compared to March last year exports and imports to and from EU member states fell by 17.4 % and 11.3 % respectively.

German exports to countries outside the European Union amounted to 25.4 billion Euros and imports from there to 20.4 billion Euros which was a drop by 12.9 % and 12.0 % respectively as compared to March 2008. GERMAN

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