Financial News: German Exports Rebound In February

German Exports Rebound In February

(RTTNews) - Germany's export rebounded the most since 2022 even as sales to the U.S. and China declined, official data revealed Thursday. Imports also logged a robust recovery in February.

Exports grew 3.6 percent month-on-month in February, reversing January's 1.5 percent fall, Destatis said. This was the biggest growth since May 2022. Shipment was expected to climb moderately by 1.0 percent.

Likewise, imports surged 4.7 percent, following a drop of 5.1 percent in January. Imports posted its fastest growth since May 2023 and came in better than forecast of 4.0 percent.

As growth in imports exceeded the increase in exports, the trade surplus fell to EUR 19.8 billion from EUR 20.3 billion in January. However, the surplus was above the expected level of EUR 18.5 billion.

On a yearly basis, exports increased 1.7 percent after a 3.0 percent fall in January. At the same time, imports gained 0.6 percent after falling 5.5 percent in the prior month.

Exports to the U.S. dropped 7.5 percent from January and shipments to China decreased 2.5 percent. Meanwhile, imports from the US and China increased 9.8 percent and 6.5 percent, respectively.

Data showed a notable growth of 26.9 percent in exports to Russia but imports from Russia declined 18.7 percent. Similarly, exports to EU countries rose by 5.8 percent and imports from these countries increased by 5.1 percent.

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