In contrast, exports to the United States, the most important destination of German exports, increased by 14.6 per cent to €12.4 billion.

Germany exported goods to the total value of €127.6 billion in July 2022, which was a 10.8 per cent increase compared with July 2021. Exports to Russia dropped by 56.8 per cent to €1 billion over that period as a consequence of the war in Ukraine and the sanctions imposed on Russia, according to the Federal Statistical Office (Destatis).

Other important trading partners in terms of exports were France and the Netherlands. German exports to France increased by 12.7 per cent over the same period, amounting to €9.5 billion, while that to Netherlands rose 12 per cent to reach €9.2 billion in July 2022, as per data released by Destatis.

Fibre2Fashion News Desk (KD)