Germany's Exports Growth Accelerates Unexpectedly In March

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Germany’s exports growth accelerated unexpectedly in March, data released by Destatis revealed on Friday.

Exports increased 1.2 percent on a monthly basis in March, while economists had forecast the growth to ease to 0.5 percent from 1 percent in February.

At the same time, imports growth rose sharply to 6.5 percent from 3.6 percent a month ago. This was the second consecutive increase and far exceeded the economists’ forecast of 0.7 percent.

Consequently, the trade surplus fell to EUR 14.3 billion from EUR 18.9 billion in the previous month. The expected level was EUR 19.5 billion.

Year-on-year, exports advanced 16.1 percent, reversing a 1.2 percent fall in February and imports rose 15.5 percent after a 0.9 percent rise.

As a result, the trade surplus increased to an unadjusted EUR 23.3 billion from EUR 18.2 billion last year.

The current account surplus totaled EUR 30.2 billion versus EUR 24.8 billion in last year.

The material has been provided by InstaForex Company – www.instaforex.com

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