Sharjah24 – AFP: German exports fell for the second month in a row in September as Europe's top economy grapples with global supply shortages, official data showed Tuesday.
Germany exported 112.3 billion euros ($130.2 billion) worth of goods in September, adjusted for the season -- a 0.7 percent drop from the previous month, according to federal statistics agency Destatis.
Imports rose by 0.1 percent to 99.2 billion euros.
The August drop in exports was the first since April 2020, when the first wave of the coronavirus pandemic stifled the global economy.
The upheaval caused by Covid-19 has given rise to global shortages in components, such as semiconductors, timber and plastics, limiting production in key sectors for the German economy such as the car industry.
A business survey found that shortages of materials eased in October, though companies still expect the situation to remain difficult for months to come.
The German government has downgraded its forecast for economic growth this year from 3.5 percent to 2.6 percent.
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