German Trade Surplus Narrows in March
The German trade surplus narrowed to EUR 22.7 billion in March 2019 from EUR 24.6 billion in the same month a year earlier.
Imports rose 4.5 percent from a year earlier to EUR 95.6 billion in March. Purchases from the EU went up 5.5 percent to EUR 56.6 billion, of which Euro area (5.6 percent to EUR 36.9 billion) and non-Euro area countries (5.3 percent to EUR 19.7 billion). In addition, imports from countries outside the EU grew 3.1 percent to EUR 39.0 billion.
Meanwhile, exports advanced at a slower 1.9 percent to EUR 118.3 billion. Sales to the EU increased 2.5 percent to EUR 70.5 billion, of which Euro area (0.5 percent to EUR 44.5 billion) and non-Euro area countries (6.0 percent to EUR 26.0 billion). Also, exports to countries outside the EU went up 1.1 percent to EUR 47.8 billion.
Considering the first three months of 2019, the trade surplus narrowed to EUR 55.2 billion from EUR 60.0 billion in the corresponding period a year earlier.
On a seasonally adjusted basis, the trade surplus rose to EUR 20 billion in March from EUR 18.7 billion in February and beating market consensus of EUR 18.2 billion.
Exports grew unexpectedly by 1.5 percent, beating expectations of a 0.3 percent decline; while imports went up 0.4 percent, slightly below consensus of a 0.5 percent rise.
5/10/2019 1:22:07 PM