German exports fall unexpectedly in July; industrial production also drops

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BERLIN - Germany's exports dropped unexpectedly in July and industrial production fell, even as the economies of the countries using the euro showed signs of improvement, according to two reports Friday.

The Federal Statistical Office said German exports dropped 1.1 per cent in July over June when adjusted for seasonal and calendar differences. Economists had predicted a 0.7 per cent rise, the dpa news agency reported.

Imports increased by 0.5 per cent.

Meanwhile, the Economy Ministry said industrial production dropped by 1.7 per cent in July over June, and it revised June's growth downward from a 2.4 per cent rise to a 2 per cent rise.

Still, the ministry said numbers from the first half of the year indicate that Germany's manufacturing sector is emerging from a period of weakness.

In the export report, the statistical office said that in unadjusted terms, Germany's trade surplus fell to 16.1 billion euros ($21.3 billion) in July from 17 billion euros the month before.

The office reports that July exports to the group of 17 countries that use the euro are down 0.7 per cent compared with the same month last year, while exports to non-eurozone European countries rose 3.6 per cent. Exports to non-European countries dropped 1 per cent.

The eurozone economy emerged from recession in the second quarter.

Organizations: Federal Statistical Office, Economy Ministry

Geographic location: Germany, BERLIN

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