German exports dropped 5.2% August

FXStreet (Mumbai) - The Destatis data released on Thursday showed German exports fell 58.2% in August dragging down the surplus to EUR 15.3 billion from July’s EUR 25.0 billion surplus.

The imports also dropped 3.1%. The drop in both exports and imports was higher than expected. The deterioration in demand from the emerging economies is weighing over the German manufacturers. Moreover, the sharp slowdown in the Chinese growth rate is a major threat to the German export sector.