Brexit and US Election Hits German Exports

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
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.