German exports decline in June

BERLIN (AP) ? Germany's Federal Statistics Office says the country's exports dropped in June as the European financial crisis continues to weaken other countries within the eurozone.

Exports dropped 1.5 percent in June over May, to ?92.3 billion, when adjusted for seasonal discrepancies and work days. Imports dropped 3 percent to ?76.1 billion for a trade surplus of ?16.2 billion.

In unadjusted figures, Germany exported ?94.6 billion in goods in June and imported ?76.7 billion for a trade surplus of ?17.9 billion.

Exports to European Union states fell overall by 0.5 percent over June 2011 to ?53.6 billion, dragged down by a 3 percent drop to the 17 countries within the EU that use the euro currency.

Exports to countries outside the EU rose 19.8 percent over last June to ?41.1 billion.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-08-08-Germany-Economy/id-5da42b9cbb164fb6b30571a91da27735

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