German Trade Surplus Narrows in May
The German trade surplus fell to EUR 19.7 billion in May 2018 from EUR 21.8 billion in the same month a year earlier, as exports declined while imports rose.
Exports dropped by 1.3 percent from a year earlier to EUR 109.1 billion in May, as sales to countries outside the EU decreased by 6.4 percent to EUR 43.4 billion due to a stronger euro. Meanwhile, exports to the EU grew by 2.4 percent to EUR 65.7 billion, of which Euro area countries (0.1 percent to EUR 40.8 billion) and other European countries (6.5 percent to EUR 24.9 billion).
On the other hand, imports increased by 0.8 percent to EUR 89.4 billion, as purchases from the EU went up 2.9 percent to EUR 51.8 billion, of which Euro area countries (0.6 percent to EUR 32.9 billion) and other European countries (7 percent to EUR 18.9 billion). Meantime, inbound shipments from countries outside the EU declined by 1.9 percent to EUR 37.6 billion.
On a seasonally adjusted basis, the trade surplus increased to EUR 20.3 billion in May from a downwardly revised EUR 19.0 billion in April
and slightly above market expectations of EUR 20.0 billion. Exports went up by 1.8 percent in May, recovering from a 0.3 percent fall in April and beating forecasts of a 0.75 percent gain. Imports grew at a softer 0.7 percent, following an upwardly revised 2.6 percent growth in April and compared with market consensus of a 0.3 percent fall.
In the first five months of the year, the trade surplus widened to EUR 99.9 billion from EUR 99.2 billion in the same period of 2017.
7/9/2018 10:24:16 AM