Germany: Exports bounce back in January
March 9, 2012
In January, exports increased a seasonally and working-day adjusted 2.3% over the previous month, which contrasted the 4.4% contraction recorded in December and overshot market expectations of a 1.6% rise. Meanwhile, imports expanded 2.4% in January, which contrasted the 3.9% drop tallied in December and was above analysts expectations of 1.4% increase. In annual terms, exports accelerated from a 4.9% increase in December to a 9.3% expansion in January. Meanwhile, imports grew 6.3% in January, faster than the 5.4% increase recorded in December. As a result, the trade balance improved from EUR 12.9 billion in December to EUR 13.1 billion in January.
Author: Ricardo Aceves, Senior Economist