empty
 
 

2020.04.0906:52:00UTC+00German Exports Rise; Imports Fall More-Than-Expected

Germany's exports growth accelerated, while imports fell more than expected in February, data from Destatis revealed Thursday.

Exports grew 1.3 percent on month, much faster than the 0.1 percent rise in January. Economists had expected a 1 percent decline.

Meanwhile, imports declined by more-than-expected 1.6 percent, following a 0.6 percent rise in January. Imports were forecast to fall 0.7 percent.

The trade surplus rose to a seasonally adjusted EUR 21.6 billion from EUR 18.7 billion in January.

There was a strong decrease in foreign trade with China due to coronavirus pandemic, Destatis said. Major effects of the coronavirus crisis on foreign trade results can be expected from the reference month of March.

On a yearly basis, exports gained 0.4 percent in February, in contrast to a 1.9 percent fall in January. At the same time, imports fell at a faster pace of 2.9 percent after easing 1.5 percent.

As a result, the trade surplus increased to an unadjusted EUR 20.8 billion from EUR 17.8 billion in the same period last year.

Data showed that the current account surplus rose to EUR 23.7 billion from EUR 15.8 billion in February 2019.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback