Germany's Exports In April Near Pre-crisis Levels

Germany's exports continued to approach pre-crisis levels and grew 0.3 percent in April compared to the previous month, the Federal Statistical Office (Destatis) announced on Wednesday

BERLIN, (UrduPoint / Pakistan Point News - 10th Jun, 2021 ) :-- Germany's exports continued to approach pre-crisis levels and grew 0.3 percent in April compared to the previous month, the Federal Statistical Office (Destatis) announced on Wednesday.

Within one year, exports recovered by 47.7 percent and reached 111.8 billion Euros (136.5 billion U.S. Dollars) in April after the country's foreign trade had collapsed due to COVID-19 pandemic, according to Destatis.

Exports to the United States even increased by 59.9 percent year-on-year to 10.1 billion euros in April, while German exports to China rose by 16 percent to 8.4 billion euros, according to Destatis.

"business with China is supporting the upswing," said Joachim Lang, director general of the Federation of German Industries (BDI), in a statement, adding that "Trade with the United States is also recovering" and the U.

S. economic stimulus package would create additional demand for European products in the coming months.

China remained Germany's biggest import country in April as goods imported from China totaled 10.7 billion euros, increasing by 13.3 percent from the same month last year, according to Destatis.

Germany's total imports were 5.5 percent higher than in February 2020, amounting to 96.3 billion euros in April.

Companies in Germany were "now restocking the warehouses that were emptied during the pandemic, so they will again buy more goods from abroad," said Lang. (1 euro = 1.22 U.S. dollars),