German exports post surprise fall as demand from Europe drops

DPA Updated - March 12, 2018 at 04:50 PM.

German exports posted a surprise decline in May amid a sharp fall in demand in the recession-hit Euro zone, data released on Monday showed.

Exports fell 2.4 per cent in May in comparison to April, ending two-consecutive monthly rises, the statistics office said.

Analysts had forecast a 0.1-per-cent gain after they climbed 1.4 per cent in April.

A pick-up in the domestic economy resulted in imports rising 1.7 per cent month-on-month after analysts had predicted they would come in unchanged.

Germany posted a seasonally adjusted trade surplus of €14.1 billion ($18 billion) in May, down from €17.5 billion in April.

In comparison to May 2012, exports dropped 4.8 per cent in May while imports declined 2.6 per cent.

Leading the fall in exports was a 9.6-per-cent, year-on-year drop in shipments to the 17-member Eurozone.

Exports to non-European nations — which include the world’s two biggest economies, the United States and China — fell 1.6 per cent.

Published on July 8, 2013 08:17