German exports hit record high in June despite the fallout of the Iran war

Berlin, Aug 7 (KUNA) -- Data released by Germany’s Federal Statistical Office on Friday showed that German exports in June reached a new record high, despite the repercussions of the Iran war and other economic pressures affecting Europe’s largest economy.

According to the report issued by the office from its headquarters in Wiesbaden, central-south Germany, export values reached approximately 139 billion euros, up 0.9 percent from May and 6.6 percent from the same month last year. The office stated that this monthly increase marks the highest export figure since data recording began, surpassing the previous record set in September 2022.

This rise occurred despite pressures stemming from the Iran war, the energy crisis, and weak trade with the United States, with exports serving as a crucial support factor for Germany’s slowing economy. Meanwhile, German imports rose at a faster pace during the same period, reaching nearly 124 billion euros.

Exports to European countries grew in June, while exports to countries outside the European Union remained largely stable. In contrast, exports to the United States declined significantly, although the U.S. remains Germany’s largest market for its products. (End)