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Saturday, September 12, 1998

German exports to South East Asia slump in H1 

 
Frankfurt, Sep 11: German exports to members of the Association of South East Asian Nations (Asean) slumped 19.7 per cent in the first half of the year from the same period last year, the Federal Statistics Office said on Thursday.

Germany exported 9.1 billion marks ($5.3 billion) worth of goods to the region which now accounts for a mere 1.9 per cent of overall German exports, the office said in a report.

The Asean nations are Malaysia, Singapore, Indonesia, Brunei, Thailand, the Philippines, Myanmar, Laos and Vietnam.

Exports to all Asian nations, including Japan and China, declined eight per cent during the first half of the year to 46.50 billion marks. Exports to Japan declined 11.7 per cent to 9.16 billion marks, but sales of German goods to China increased 25.7 per cent to 5.51 billion marks.

The report blamed the decline of exports to Asean members on the economic and financial crisis in Southeast Asia.

In the fourth quarter of 1997, German exports to Asean members fell 2.8 per cent. The paceof decline quickened in the first quarter to a 12.3 per cent drop and in the second quarter to a 26.6 per cent fall.

German imports from Asean nations, meanwhile, climbed 10.5 per cent to 11.5 billion marks during the first half of this year compared to the same period last year.

But the office noted the increase was not remarkable given the overall increase in Germany's appetite for goods made abroad.

Worldwide, German imports increased 12.0 per cent during the first half of the year.

Imports from all Asian nations climbed 11.8 per cent during the first half of this year to 60.19 billion marks.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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