Germany’s export and import growth exceeded expectations in March, data published by Destatis revealed Friday.
Exports grew 1.2 percent month-on-month in March, much faster than a 0.4 percent rise forecast by economists. But it was slightly slower than the 1.4 percent rise seen in February.
Imports advanced 2.4 percent, while growth was expected to ease to 0.1 percent from 1.3 percent seen in February.
The seasonally adjusted trade surplus totaled EUR 19.3 billion compared to a EUR 20 billion surplus in February.
Germany exported goods to the value of EUR 107.5 billion and imported goods to the value of EUR 84.5 billion in March. These were the highest monthly export and import values ever recorded.
On a yearly basis, exports logged a double-digit growth of 12.4 percent and imports gained 7.1 percent.
On an unadjusted basis, the trade surplus increased to EUR 23 billion in March from EUR 19.5 billion in February. It was forecast to rise to EUR 20 billion.
Similarly, the current account surplus rose to EUR 27.9 billion from EUR 16.6 billion a month ago.
The material has been provided by InstaForex Company – www.instaforex.com