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Exports set for record year despite August dip

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Germany is still on course for another record year of exports in 2015 in spite of a drop of 5.2 percent in August compared with the previous month, the Federal Statistics Office (Destatis) reported on Thursday.

“The world economy is being slowed down by weakness in emerging economies, and the level of world trade is below-average,” said Jörg Zeuner, chief economist at government-owned development bank KfW.

He added that late school holidays in Germany’s economically strongest states may have had an impact on the export statistics. But compared with the same time last year, exports still look likely to break 2014’s record, with five percent more exported in August 2015 than August 2014 at €88 billion.

Germany exported 6.6 percent more goods in the first eight months of 2015 than in the same period in 2014.