Exports fall by 1.1 percent in May
AFP/The Local - [email protected]
Published: 8 Jul, 2014 CET.
Updated: Tue 8 Jul 2014 08:55 CET
German exports fell by 1.1 percent in May, but the country's trade surplus widened as imports fell even faster, official data showed on Tuesday.
In seasonally adjusted terms, Germany exported goods worth a total of €92.8 billion in May, down 1.1 percent from the figure for April, the federal statistics office Destatis said in a statement.
Imports dropped by 3.4 percent to €74.1 billion - their fastest month-on-month fall since November 2012.
That meant the seasonally adjusted trade surplus - the balance between imports and exports - increased to €18.8 billion in May from €17.2 billion in April.
Destatis reported on Monday that industrial production also fell by 1.8 percent in Germany in May – its biggest drop for two years. The statistics agency said May bank holidays and a poor performance by the construction sector were behind the fall. But it added that "geopolitical factors" may also have had an effect.
SEE ALSO: German weapon exports hit ten-year high
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In seasonally adjusted terms, Germany exported goods worth a total of €92.8 billion in May, down 1.1 percent from the figure for April, the federal statistics office Destatis said in a statement.
Imports dropped by 3.4 percent to €74.1 billion - their fastest month-on-month fall since November 2012.
That meant the seasonally adjusted trade surplus - the balance between imports and exports - increased to €18.8 billion in May from €17.2 billion in April.
Destatis reported on Monday that industrial production also fell by 1.8 percent in Germany in May – its biggest drop for two years.
The statistics agency said May bank holidays and a poor performance by the construction sector were behind the fall. But it added that "geopolitical factors" may also have had an effect.
SEE ALSO: German weapon exports hit ten-year high
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