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Financial News: German Exports Remain Flat; Imports Rise

German Exports Remain Flat; Imports Rise

03/09/2020 - 03:21:00 (RTTNews)

(RTTNews) - Germany's exports remained unchanged in January, while imports recovered after falling for two straight months, data from Destatis revealed on Monday.

Exports remained flat in January from December, when shipments were up 0.2 percent. Economists had forecast exports to grow 0.8 percent.

Meanwhile, imports grew 0.5 percent, following a 0.3 percent drop in December. Imports were forecast to gain 0.6 percent.

Consequently, the trade surplus declined to a seasonally adjusted EUR 18.5 billion from EUR 19 billion a month ago.

On a yearly basis, exports and imports fell 2.1 percent and 1.8 percent, respectively.

As a result, the trade surplus decreased to an unadjusted EUR 13.9 billion from EUR 14.5 billion in the previous year.

Further, data showed that the current account surplus dropped to EUR 16.6 billion from EUR 17.6 billion in the same period last year.

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