Germany records 1st export deficit in over 30 years

[shockedcanadian]

It appears the war in Ukraine and the energy issue is hurting Germanies remarkable and unchallenged knowledge economy. I imagine China is also proving to be an underestimated high tech force in the region.

Germany records 1st export deficit in over 30 years

New figures show that Germany recorded its first monthly trade deficit since 1991 in May because of higher import prices

abcnews.go.com

BERLIN -- Germany recorded its first monthly trade deficit since 1991 in May as a result of higher import prices, figures released Monday show.

The Federal Statistical Office said exports reached 125.8 billion euros ($131.5 billion) last month, while imports came in at 126.7 billion euros.

The seasonally adjusted figures resulted in a foreign trade deficit of almost 1 billion euros — a psychological blow to Europe's biggest economy, which prides itself on its strong export industries.
Analysts attributed the rise in imports to inflation.

Germany also saw exports to Russia recover by almost 30% in May compared to the previous month, following a 60% drop in April due to the war in Ukraine and related sanctions. The volume of exports to Russia last month remained less than half of what they were in May 2021

 

[Polishprince]

I thought Germany and the other sophisticated and progressive thinking European powers were all self sufficient in energy with their train travel and wind turbines? Why would the lack of filthy, earth-killing so called "fossil fuels" mean shit to their countries?

 

[zaangalewa]

I thought Germany and the other sophisticated and progressive thinking European powers were all self sufficient in energy with their train travel and wind turbines? Why would the lack of filthy, earth-killing so called "fossil fuels" mean shit to their countries?

Do you expect any serios answer to your anti-German and anti-European superstupidities, full-time idiot?