Financial News: German Exports Rise At Faster Pace

German Exports Rise At Faster Pace

06/07/2024 - 03:11:00 (RTTNews)

(RTTNews) - Germany's exports and imports growth accelerated in April, data from Destatis showed on Friday.

Exports grew at a faster pace of 1.6 percent on a monthly basis, following March's revised 1.1 percent increase. Shipments were forecast to grow 1.1 percent.

At the same time, imports growth advanced to 2.0 percent from 0.5 percent in March. The rate also exceeded economists' forecast of 0.6 percent.

As a result, the trade surplus fell slightly to EUR 22.1 billion from EUR 22.2 billion in the previous month.

Year-on-year, exports logged a sharp 12.3 percent increase, in contrast to the 8.1 percent fall in March. Likewise, imports advanced 6.6 percent, reversing 9.3 percent fall.

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