BERLIN, July 8 (Xinhua) -- Germany's foreign trade volume shrank in May, with imports and exports falling considerably, according to figures published by the country's Federal Statistical Office (Destatis) on Monday.
Exports by Europe's largest economy fell by 3.6 percent month-on-month to 131.6 billion euros (142.1 billion U.S. dollars), while imports dropped by as much as 6.6 percent to 106.7 billion euros, Destatis said.
"We are currently seeing a dramatic slump on both the export and import side," said Dirk Jandura, president of the Federation of German Wholesale, Foreign Trade and Services (BGA), on Monday.
The weakness of foreign trade is "largely home-made," Jandura added, emphasizing the critical role of free trade. "If Germany does not take a leading role on this issue, nothing will happen here in the future either," he warned.
China remained Germany's most important supplier country in May, with goods worth 13 billion euros, an increase of 1.7 percent on the previous month. Meanwhile, German exports to countries including the United States and China recorded declines.
Jandura also warned of negative consequences from the European Commission's tariffs on electric vehicles imported from China, saying that these are not in Germany's or in Europe's interests. "We must accept international competition and not isolate ourselves from it," he said.
According to the European Automobile Manufacturers' Association, new registrations of battery-electric vehicles (BEVs) saw a year-on-year decline of 12 percent in May. Their market share fell to 12.5 percent, over 1 percentage point lower than the previous year.
A spokesperson for German carmaker Volkswagen said last week that the timing of the European Commission's decision is detrimental to the current weak demand for BEVs in Europe. "The negative effects of this decision outweigh any benefits for the European, and especially the German, automotive industry." (1 euro = 1.08 U.S. dollar) ■