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German exports show biggest fall since 2009

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German exports suffered their worst month since the global recession, raising fears that Europe’s manufacturing powerhouse is being hampered by slowing global demand.
Exports in Europe’s largest economy collapsed by 5.2pc in August. This was their largest drop since January 2009, according to figures from the country’s Federal Statistics Office.

Imports also declined by 3.1pc, which caused the country’s record trade surplus to shrink to €19.6bn from €22.8bn
The summer decline in import – export trade was still larger than the 4pc average drops seen over the same month in 2014. It also far surpassed the 0.9pc drop predicted by analysts.

Falling export numbers come after German factories and industry reported a disappointing August.