Because of the corona recession, many important trading partners saw German exports plummet as never before. Exports fell in April by 24.0 percent on the previous month, as the statistics office said on Tuesday. This is the “biggest decrease since the beginning of the time series in August 1990”. Economists surveyed by Reuters had only expected a drop of 15.6 percent after a drop of 11.7 percent in March.
Imports also collapsed at a record pace: they fell by 16.5 percent on the previous month, the third time in a row.
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