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Financial News: Germany's Exports Recover In May

Germany's Exports Recover In May

07/09/2018 - 02:24:00 (RTTNews)

(RTTNews) - Germany's exports rebounded in May, while growth in imports slowed from April, figures from Destatis showed Monday.

Exports grew by more-than-expected 1.8 percent on a monthly basis in May, reversing a 0.3 percent drop in April. Shipments were expected to gain only 0.7 percent.

Meanwhile, imports rose at a slower pace of 0.7 percent after climbing 2.6 percent in the previous month. Economists had forecast a 0.5 percent fall.

As a result, the trade surplus rose to a seasonally adjusted EUR 20.3 billion from EUR 19 billion in April.

Year-on-year, exports declined 1.3 percent, in contrast to a 9.3 percent rise last month. At the same time, the increase in imports came in at 0.8 percent versus 8.6 percent in April.

The unadjusted trade surplus fell to EUR 19.7 billion from EUR 20.1 billion a month ago. The expected level was EUR 20.2 billion.

Data showed that the current account surplus decreased to EUR 12.6 billion from EUR 15.2 billion last year.

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