Frankfurt (dpa) – German exports declined in August by 1.2 per cent compared with July on a seasonally adjusted basis, as supply chain problems and shortages of raw materials hit manufacturers, the Federal Statistical Office (Destatis) reported on Friday.
The Federation of German Industries (BDI) predicted the country was in for a difficult autumn.
“Problems in global supply chains, high logistics costs and unresolved trade conflicts are darkening the economic skies and are having massive effects on exports as a result,” BDI chief executive Joachim Lang said.
Germany exported goods to the value of 104.4 billion euros (120.6 billion dollars) in August, representing a rise of 14.4 per cent over the same month last year, when the pandemic was affecting production.
Imports rose by 18.1 per cent on the year to 93.8 billion euros. By comparison with the pre-pandemic level in February 2020, exports rose 0.5 per cent according to the provisional figures.
While the order books of German manufacturers are full, materials shortages are hampering production. The mechanical engineering and automotive sectors have been particularly affected.
Backlogs at ports and a shortage of container capacity are also hindering exports.
Over the first eight months, goods exports rose 15.9 per cent to 892.7 billion euros, while imports rose at the same rate to 767.6 billion euros.
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