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German exports suffer deepest month-on-month drop in a year
Last Updated: 2013-01-08 18:48 | Xinhua
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German exports declined significantly in November 2012, adding uncertainties to German economy in the last quarter.

German Federal Statistical Office said on Tuesday that, in November 2012, German exports dropped by 3.4 percent, compared with the previous month. That was the biggest month-on-month drop since October 2011.

According to the Wiesbaden-based office, after calendar and seasonally adjusted, Germany exported commodities to the value of 89.6 billion euros, while imported goods worth of 75.1 billion euros in November. The imports decreased by 3.7 percent from October.

Weak demand in the eurozone was hurting German economy, for which exports were the main growth engine. In November, Germany dispatched commodities to the value of 35 billion euros to the euro zone countries, that was a decline of 5.7 percent, compared with the same month of 2011. During the same period, German imports from these countries increased by 1.1 percent, reaching 34.8 billion euros.

Exports to countries outside the European Union increased by 5.6 percent, while imports decreased by 4.9 percent.

After two years of strong growth, German economy in 2012 started to suffer hurts of the continuous crisis in the common currency union. The gross domestic products (GDP) growth is expected to be negative in the last quarter. For the whole year, economists, as well as government, have forecasted the economy to grow only by 0.8 percent.

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