German Import, Export Growth Hit Biggest Growth Since 1974 Oil Crisis

Source: European Commission

German import prices grew at a faster pace than exports in April, reflecting the impact of energy prices during the month. EWG is down 1.10%, while DAX is up 1.69%.

• Import prices recorded a 31.7% annual increase, marking the biggest jump since the first oil crisis in September 1974, when prices surged by 32.6%.
• Import prices recorded an increase of 1.8% when compared with the previous month.
• Energy imports were 157.4% more expensive than the same month last year, with natural gas up 301.2% and crude oil up 77.5%.
• Import prices excluding crude oil and mineral oil products gained 27.6% from April 2021 and 2.3% from March.
• Export prices increased by 16.0% from April 2021, marking the biggest increase since the first oil crisis in November 1974, when prices grew by 16.8%.