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Brexit and US Election Hits German Exports

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German exports to Britain and the United States dropped sharply in the third quarter, data from the Federal Statistics Office obtained by Reuters showed on Friday, highlighting the impact of the Brexit vote and the U.S. presidential race on trade.

Exports to Britain, Germany’s third-largest export market, were down 4.7 percent in the July-Sept period compared with last year, when they rose by some 11 percent in the third quarter.

Exports to the United States, Germany’s biggest trading partner, fell by 10.5 percent year-on-year in the third quarter, the data showed. They also fell by 6.3 percent in the first nine months of this year.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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