The economy in Germany is taking its share of beating from the global economic crisis with first quarter GDP showing a 3.8% quarter-on-quarter drop and a staggering 6.7% year-on-year drop, worse than what analysts predicted.

The Guardian reports: “This year should have been a year of celebrations: the 20th anniversary of the fall of the Berlin Wall, the 60th anniversary of the founding of modern Germany. Instead, the country is stuck in its worst recession since the war.”

Germany’s GDP was heavily touched by the country’s trade balance, which unveiled a heavy drop in exports over imports, a big drag on Germany’s heavily export reliant economy. “The decrease of price-adjusted exports was markedly larger than that of imports,” The Federal Statistics Office said on Friday.

Related news articles:

1. German exports down 23.1 percent
2. Germany warns on global inflation after crisis
3. Global trade sees worst fall in over 60 years
4. Japan’s economy: worst downturn in 35 years
5. Germany, France return to growth in Q2; Europe on course for recovery