Financial News: German Exports Recover In March

German Exports Recover In March

05/07/2024 - 02:35:00 (RTTNews)

(RTTNews) - Germany's exports rebounded at a faster-than-expected pace in March, while the growth in imports slowed sharply, data from Destatis revealed on Tuesday.

Exports gained 0.9 percent on a monthly basis, reversing a 1.6 percent fall in February. Shipments were forecast to climb 0.4 percent.

At the same time, monthly increase in imports eased to 0.3 percent from 3.0 percent in the previous month. Nonetheless, the outcome was better than the expected 1.0 percent decrease.

As a result, the trade surplus increased to EUR 22.3 billion in March from EUR 21.4 billion in the previous month. The surplus was slightly below economists' forecast of EUR 22.4 billion. On a yearly basis, exports declined 8.3 percent after a 1.1 percent decrease. Likewise, the fall in import deepened to 9.6 percent from 6.7 percent.

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