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Financial News: Germany's Exports Fall Unexpectedly In February

Germany's Exports Fall Unexpectedly In February

04/09/2018 - 02:37:00 (RTTNews)

(RTTNews) - Germany's exports and imports decreased unexpectedly in February, figures from Destatis revealed Monday.

Exports fell 3.2 percent month-on-month in February, bigger than the 0.4 percent drop seen in January. Shipments were forecast to rise 0.2 percent.

Likewise, imports declined 1.3 percent on month after falling 0.2 percent in January. Economists had forecast imports to climb 0.5 percent.

As a result, the trade surplus decreased to a seasonally adjusted EUR 19.2 billion from EUR 21.5 billion a month ago.

Year-on-year, exports growth eased to 2.4 percent from 8.6 percent. Similarly, imports grew at a slower pace of 4.7 percent, following January's 6.9 percent expansion.

Data showed that the current account surplus totaled EUR 20.7 billion in February compared to a EUR 23.4 billion surplus posted in the same period of 2017.

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