FOREX TradingCharts.com

Financial News: German Exports Rebound In April

German Exports Rebound In April

06/03/2022 - 02:59:00 (RTTNews)

(RTTNews) - Germany's exports rebounded at a stronger than expected pace in April despite sanctions imposed on Russia dampening trade in Europe.

Exports advanced 4.4 percent on a monthly basis, in contrast to the 3.0 percent decline posted in March, data from Destatis showed on Friday. Shipments were expected to grow only 1.5 percent.

At the same time, imports moved up 3.1 percent on month. Although growth was slightly slower than March's 3.2 percent increase, the rate far exceeded economists' forecast of 0.2 percent.

As a result, the trade surplus rose to a seasonally adjusted EUR 3.5 billion from EUR 1.9 billion a month ago. The expected level was EUR 1.6 billion.

Year-on-year, exports growth improved to 9.2 percent from 8.5 percent. Likewise, growth in imports climbed to 25.2 percent from 22.6 percent in the prior month.

The unadjusted foreign trade balance showed a surplus of EUR 1.3 billion in April compared to a EUR 15.3 billion surplus in the same period last year.

Exports to the Russia decreased 10.0 percent to EUR 0.8 billion in April, because of the sanctions imposed against Russia as a result of the war in Ukraine, further measures to restrict exports, and unsanctioned behaviour of market participants. Imports from Russia were down 16.4 percent to EUR 3.7 billion in April.

Meanwhile, shipments to EU member countries grew 4.2 percent and imports from those countries gained 2.4 percent annually.

A surprise surge in April exports softens fears of a contraction of the entire German economy in the second quarter, Carsten Brzeski, an ING economist, said. However, exports are still facing several headwinds.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Hungary Trade Balance Swings To Deficit (07 min(s), 15 sec(s) ago)
(RTTNews) - Hungary's trade balance swung to a deficit in April, as imports rose more than exp ...Full Story»

Poland Inflation Accelerates In June (03 min(s), 15 sec(s) ago)
(RTTNews) - Poland's consumer price inflation continued to increase in June, mainly driven by ...Full Story»

Austria Inflation Highest Since September 1975 (06 min(s), 15 sec(s) ago)
(RTTNews) - Austria's consumer price inflation rose to the highest level since September 1975, ...Full Story»

U.S. Construction Spending Unexpectedly Edges Down 0.1% In May (44 min(s), 15 sec(s) ago)
(RTTNews) - Reflecting a decrease in spending on public construction, the Commerce Department rele ...Full Story»

U.S. Manufacturing Index Drops To Two-Year Low In June (33 min(s), 15 sec(s) ago)
(RTTNews) - The Institute for Supply Management released a report on Friday showing its reading on ...Full Story»

Mexico Business Confidence Weakens In June (18 min(s), 15 sec(s) ago)
(RTTNews) - Mexican business confidence decreased for the second straight month in June, though sl ...Full Story»

Eurozone Inflation Reaches New Record High (48 min(s), 15 sec(s) ago)
(RTTNews) - Eurozone inflation accelerated further to a new record high in June, while core inflat ...Full Story»

Amended: Brazil Producer Price Inflation Rises In May (46 min(s), 15 sec(s) ago)
(RTTNews) - Correction: The latest data available is for May Brazil's producer price infl ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Hungary Trade Balance Swings To Deficit

07/01/2022 - 12:24 PM (RTTNews)
(RTTNews) - Hungary's trade balance swung to a deficit in April, as imports rose more than exp ...Full Story>>

Austria Inflation Highest Since September 1975

07/01/2022 - 12:23 PM (RTTNews)
(RTTNews) - Austria's consumer price inflation rose to the highest level since September 1975, ...Full Story>>

Poland Inflation Accelerates In June

07/01/2022 - 12:20 PM (RTTNews)
(RTTNews) - Poland's consumer price inflation continued to increase in June, mainly driven by ...Full Story>>

U.S. Construction Spending Unexpectedly Edges Down 0.1% In May

07/01/2022 - 11:01 AM (RTTNews)
(RTTNews) - Reflecting a decrease in spending on public construction, the Commerce Department rele ...Full Story>>

U.S. Manufacturing Index Drops To Two-Year Low In June

07/01/2022 - 10:50 AM (RTTNews)
(RTTNews) - The Institute for Supply Management released a report on Friday showing its reading on ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.