The market has been quite busy this week, particularly on the other side of the Atlantic. After rallying to a record $1.60 on Tuesday where investors were betting the ECB would raise rates to curb inflation, the euro eased up a bit yesterday. Weaker data out of the euro zone, which included the steepest monthly fall in Germany’s Ifo index since September 2001, prompted a sell off in the currency. 

BusinessEurope, which boasts a membership base of over twenty million European companies, said that damage to the export market has been small so far but “expecting emerging countries to compensate for weaker U.S. growth and consumption is hardly feasible.” 

Intrigued as always by current events, Panjiva‘s research team ran some quick analyses on our data to see how European exports have been behaving.

 *Data Source: Panjiva Analysis of data from U.S. Department of Homeland Security                                                                                                                                                                                                                                              As the numbers indicate, apparel shipments to the U.S. from Europe and Germany (the continent’s biggest exporter) have remained robust. Compared to analogous periods from previous years, the data also showed significant improvement (thanks in part to a stronger dollar back in 2007). Given the lag time for when orders are placed, products are manufactured, and shipments are received, it will be interesting to see how exports change over the next few months as European economic sentiment fluctuates. Panjiva will keep you posted so stay tuned.

Want the latest export data from Europe and other parts of the world? Contact our team at research@panjiva.com.