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Exports from Germany fall drastically

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German exports fell at a record rate in April because economies around the world shut down to contain Covid-19.

Export volumes fell 31.1% from a year earlier, an unprecedented slump in the record that reaches back to 1950. Imports fell the most since the financial crisis 10 years ago.

Germany is widely considered to have survived pandemic consequences better than most in the region. The government has announced a major stimulus package to revive growth. But the economy relies on external demand for German goods.