. Earth Science News .
TRADE WARS
German exports rise again in Sept as China demand soars
by Staff Writers
Frankfurt Am Main (AFP) Nov 9, 2020

Germany's exports rose for the fifth straight month in September, official data showed Monday, with China leading recovering demand as many Asian economies put the coronavirus pandemic behind them.

Exports grew 2.3 percent month-on-month, after a 2.4 percent rise in August, federal statistics agency Destatis said in seasonally adjusted figures.

Imports fell 0.1 percent in August.

Germany shipped goods abroad worth 109.8 billion euros ($130.3 billion) and imported goods worth 89 billion euros.

The fifth-straight rise follows a plunge in activity in March and April, when virus lockdowns closed factories and businesses.

Exports in September were still 3.8 percent down on the same month last year, and 7.7 percent below the pre-crisis level of February 2020.

While the German economy strongly rebounded in the third quarter -- growing 8.2 percent after contracting 9.8 percent in the spring -- new shutdowns announced by Chancellor Angela Merkel that closed restaurants and cafes, the leisure and cultural sectors, will squeeze consumer spending in November.

However, the new regulations do not close factories or manufacturing businesses, including Germany's key car industry, which should reduce some of the economic impact on exports.

But international trade remains dependent on how other countries are dealing with the pandemic.

Exports to China rose 10.6 percent year-on-year, but exports to the United States, which is struggling with record high coronavirus case rates, were down 5.8 percent, and to Britain down by 12.4 percent.

Meanwhile, exports to Germany's biggest market -- the European Union -- slipped 3.3 percent in the month compared with August.

"Exports could still prevent the economy from falling into a second lockdown depression", ING economist Carsten Brzeski said, but with the introduction of the latest restrictions in key markets including France and Italy, "it is hard to see how German exports could remain unharmed."

edf/hmn/bmm

APRIL

ING GROEP


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
Apps win, labor frets after Uber-led 'gig worker' measure passes
San Francisco (AFP) Nov 8, 2020
A victory for the "gig economy" in California is likely to echo across the US, in a boon for app-based services while igniting fear that big business is rewriting labor laws. Rideshare and delivery apps matching tasks with those willing to perform them as independent contractors sidestepped a labor law with the passage of Proposition 22 in a referendum put before state voters. "Going forward, you'll see us more loudly advocate for new laws like Prop 22," Uber chief executive Dara Khosrowshahi sa ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
'Miracle' girl rescued 91 hours after Turkey quake

Young girl rescued 91 hours after Turkey quake

UN chief deplores persistent lack of women in peace efforts

International Charter for disasters 20 years on

TRADE WARS
Optimizing the design of new materials

Monitoring open-cast mines better than before

3D print experts discover how to make tomorrow's technology using ink-jet printed graphene

Portrait transmitted via 3D printing

TRADE WARS
Sudan says latest Nile dam talks failed

Space skills help tackle water woes

Scientists find chink in coral-eating starfish armour

The cement for coral reefs

TRADE WARS
Coast Guard to send its icebreaker to Arctic region

Giant metallic 'steed' traverses Iceland's threatened glacier

Marines, sailors to conduct arctic training exercise in Norway

Multi-drone system autonomously surveys penguin colonies

TRADE WARS
See-through soil substitutes help scientists study soil ecology

Self-watering soil could transform farming

Mobile food tracking app may offer farm-to-table transparency

Iraq's ancient 'palm climbers' struggle for survival

TRADE WARS
Three dead as Category 2 hurricane Eta batters Nicaragua

Central America braces as Hurricane Eta builds to Category 4

Philippine island left without power after deadly typhoon: Red Cross

Furious Category Four hurricane Eta smashes into Nicaragua

TRADE WARS
French Defence Minister stresses support for Mali troops

Tanzania's Magufuli wins election by a landslide

US hostage freed in Niger: defence minister

Tanzania ruling party heads for landslide win in contested poll

TRADE WARS
Neanderthal children grew, weaned similarly to Homo sapien children

Mountain gorillas friendly with neighbors outside of core home ranges

How'd we get so picky about friendship late in life? Ask the chimps

Cognitive elements of language have existed for 40 million years









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.