Germany's exports in April decreased by a record 31.1 percent year-on-year, the Federal Statistical Office announced on Tuesday, amid the COVID-19 pandemic
MOSCOW (Pakistan Point News / Sputnik - 09th June, 2020) Germany's exports in April decreased by a record 31.1 percent year-on-year, the Federal Statistical Office announced on Tuesday, amid the COVID-19 pandemic.
In recent months, global trade has been paralyzed by the governmental efforts to contain the virus, which have included the imposition of travel bans and quarantines, disrupting usual economic processes.
"Germany exported goods to the value of 75.7 billion Euros [$85.2 billion] and imported goods to the value of 72.2 billion euros in April 2020. Based on provisional data, the Federal Statistical Office (Destatis) also reports that exports decreased by 31.1% and imports by 21.6% in April 2020 year on year," the office said in a statement.
This is the country's record drop in exports since it began collecting foreign trade statistics in 1950. The last time Germany experienced something similar was in June 2009, amid the global financial crisis.
