09.03.201802:55:00UTC+00Germany's Exports & Imports Fall In January

Germany's exports as well as imports declined in January from the previous month, Destatis reported Friday.

Exports decreased 0.5 percent on a monthly basis after staying flat in December. Shipments were expected to gain 0.3 percent.

Similarly, imports fell 0.5 percent in contrast to December's 1.1 percent increase. Economists had forecast a 0.2 percent drop in January.

Consequently, the trade surplus remained unchanged at a seasonally adjusted EUR 21.3 billion.

Year-on-year, exports climbed 8.6 percent, faster than the 3.6 percent rise in December. Likewise, imports advanced 6.7 percent compared to December's 4.7 percent growth.

As a result, the trade surplus increased to EUR 17.4 billion from EUR 14.6 billion in the same period of last year.

The current account balance showed a surplus of EUR 22.0 billion compared to EUR 11.9 billion surplus in January 2017.