Germany Trade Surplus Widens for 4th Month
The trade surplus in Germany increased 8.2 percent year-on-year to EUR 21 billion in May of 2016 as exports went up while imports recorded the third month of no growth. On a seasonally adjusted basis, exports unexpectedly dropped 1.8 percent, the sharpest fall in nine months.
7/8/2016 7:44:20 AM
Year-on-year, exports increased 1.6 percent to EUR 97.2 billion, following a 3.9 percent rise in April. Sales from the European Union went up 2.1 percent: those to the Euro Area rose 1.5 percent and to non-Eurozone countries jumped 3.1 percent. Sales to countries outside the EU increased 0.9 percent.
Imports edged down 0.1 percent to EUR 76.2 billion after being flat in April and falling 4.3 percent in March. Imports from the Eurozone decreased 0.8 percent while those from other EU countries increased 2.4 percent. Purchases from countries outside the EU declined 0.7 percent.
Considering the first five months of the year, exports increased 1.5 percent and imports rose 1.7 percent, bringing the trade surplus to €106.2 billion.
On a seasonally adjusted basis, exports plunged 1.8 percent, the biggest fall since August last year and imports ededg up 0.1 percent, thus narrowing the trade surplus to EUR 22.2 billion.