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GERMAN TRADE BALANCE SUPPORTS EURO

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German trade balance

GERMAN TRADE BALANCE SUPPORTS EURO

Dec 9 2014, 7.59am GMT

STOCK.com

As figures for the German trade balance are published, EURUSD sees positive motion.

Exports declined by 0.5% and imports by 3.1% compared with September 2014

“Exports exceeded the former record high of September 2014 (102.5 billion euros). German exports increased by 4.9% and German imports by 0.9% from October 2013 to October 2014. After calendar and seasonal adjustment, exports declined by 0.5% and imports by 3.1% compared with September 2014.

The foreign trade balance showed a surplus of 21.9 billion euros in October 2014. In October 2013, the surplus amounted to +17.8 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 20.6 billion euros in October 2014.

According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of 23.1 billion euros in October 2014, which takes into account the balances of trade in goods including supplementary trade items  (+24.2 billion euros), services (–5.5 billion euros), primary income (+6.9 billion euros) and secondary income (–2.4 billion euros). In October 2013, the German current account showed a surplus of 17.0 billion euros.

In October 2014, Germany dispatched goods to the value of 59.7 billion euros to the Member States of the European Union (EU), while it received goods to the value of 54.0 billion euros from those countries. Compared with October 2013, dispatches to the EU countries increased by 3.9%, and arrivals from those countries by 1.2%. Goods to the value of 37.5 billion euros (+1.9%) were dispatched to the Euro area countries in October 2014, while the value of the goods received from those countries was 36.7 billion euros (+0.2%). In October 2014, goods to the value of 22.2 billion euros (+7.6%) were dispatched to EU countries not belonging to the Euro area, while the value of the goods which arrived from those countries was 17.3 billion euros (+3.6%).

Exports of goods to countries outside the European Union (third countries) amounted to 44.2 billion euros in October 2014, while imports from those countries totalled 28.0 billion euros. Compared with October 2013, exports to third countries increased by 6.3% and imports from those countries by 0.2%.”

The figures for the strongest country in the Eurozone gave support to the EURUSD before market opening.

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