German Exports Rise For First Time In 4 Months … RTT
German Exports Rise For First Time In 4 Months
Germany’s exports increased for the first time in four months in March, while imports continued to drop, figures from Destatis showed Tuesday.
Exports climbed 1.7 percent on month, in contrast to a 3.1 percent fall in February.
Shipments were expected to grow 1.8 percent. This was the first increase since November 2017.
Meanwhile, imports slid 0.9 percent after declining 1.4 percent a month ago. Economists had forecast a 1 percent rise.
As a result, the trade surplus increased to a seasonally adjusted EUR 22 billion from EUR 19.4 billion in February.
On a yearly basis, exports fell 1.8 percent, reversing a 2.4 percent rise a month ago. Similarly, imports decreased 2.3 percent after expanding 4.7 percent in February.
On an unadjusted basis, the trade surplus rose slightly to EUR 25.2 billion from EUR 25.1 billion in the same period of last year. The expected level was EUR 23.1 billion.
At the same time, the current account surplus decreased to EUR 29.1 billion from EUR 32.7 billion in March 2017.
by RTTNews Staff Writer