German Trade Surplus Narrows as Exports Fall
The German trade surplus narrowed to EUR 17.9 billion in April 2019 from EUR 20.4 billion in the same month a year earlier.
Exports dropped 0.5 percent year-on-year to EUR 109.7 billion in April. Sales to the EU declined 3.5 percent to EUR 63.8 billion, of which Euro area (-0.5 percent to EUR 41.6 billion) and non-Euro area countries (-8.7 percent to EUR 22.3 billion). Meanwhile, exports to countries outside the EU grew by 4 percent to EUR 45.8 billion.
Imports increased 2.1 percent to EUR 91.7 billion. Purchases from the EU went up 1.9 percent to EUR 53.1 billion, of which Euro area (2.5 percent to EUR 34.8 billion) and non-Euro area countries (0.7 percent to EUR 18.2 billion). In addition, imports from countries outside the EU rose 2.4 percent to EUR 38.6 billion.
Considering the first four months of 2019, the trade surplus narrowed to EUR 73 billion from EUR 80.4 billion in the corresponding period a year earlier.
On a seasonally adjusted basis, the trade surplus decreased to EUR 17.0 billion in April from EUR 20.0 billion in March, missing market consensus of EUR 18.6 billion. Exports plunged 3.7 percent, worse than expectations of a 0.9 percent decline; and imports fell 1.3 percent, compared to consensus of a 0.2 percent drop.
6/7/2019 11:04:40 AM