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Financial News: Germany's Exports Rise Marginally In December

Germany's Exports Rise Marginally In December

02/07/2020 - 02:58:00 (RTTNews)

(RTTNews) - Germany's exports rose marginally and imports declined for the second straight month in December, data from Destatis revealed on Friday.

Exports grew only 0.1 percent in December from November, when it fell 2.2 percent. Economists had forecast a 0.6 percent monthly rise.

At the same time, imports dropped 0.7 percent after easing 0.6 percent in November. Imports were forecast to grow 0.3 percent. This was the second consecutive decrease. As a result, the trade surplus rose to a seasonally adjusted EUR 19.2 billion from EUR 18.5 billion in the previous month.

On a yearly basis, exports advanced 2.3 percent and imports gained 1.2 percent. Consequently, the trade surplus totaled an unadjusted EUR 15.2 billion versus EUR 14.1 billion surplus a year ago.

In 2019, German exports and imports exceeded the former record highs of 2018. Exported were valued at EUR 1,327.6 billion and imports at EUR 1,104.1 billion.

However, the foreign trade surplus fell to EUR 223.6 billion in 2019 from EUR 228.7 billion in 2018.

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