Imports dropped 22.9 per cent EU$54.4 billion from EU$70.5 billion in April 2008. -- PHOTO:AFP
BERLIN - GERMANY, Europe's largest economy, saw its exports plunge nearly 30 per cent in April as the global economic crisis continued to hurt demand for its products, the Federal Statistical Office reported Tuesday.
The country saw exports drop to EU$63.8 billion (S$129.83) in April, compared with EU$89.5 in the same month the previous year - a drop of 28.7 per cent.
The fall was the largest since Germany went into recession in last year's third quarter, though there were two fewer working days in April 2009 compared to April 2008 because of how the Easter break fell.
Imports dropped 22.9 per cent EU$54.4 billion from EU$70.5 billion in April 2008.
According to figures adjusted for seasonal and calendar factors, exports declined 4.8 per cent in April from the previous month, while imports were down 5.8 per cent, the office said.
Germany's export-driven economy showed a foreign trade balance surplus of EU$9.4 billion in April - compared to a surplus of EU$19 billion in April 2008. -- AP