Germany`s exports hit by Eurozone crisis and shrinking global demand

GERMANY`s export trade fell by 3.6 per cent in October compared to the previous month, which was far worse than the 1 per cent decline earlier predicted by the markets.

Imports also fell by 1 per cent compared to September.


A report by London`s Containerisation International said the result confirmed that "Europe`s biggest economy - until now a lone shining beacon in the EU - is now being impacted by the region`s debt crisis and falling global demand."


Germany`s trade surplus has declined from EUR17.3 billion (US$23 billion) to EUR15.5 billion as a result of its plummeting export trade, the report added.