Germany: Merchandise exports accelerate in May
Merchandise exports dropped 0.5% month on month in May, following April’s 4.4% rise. Meanwhile, merchandise imports increased 2.7% on a monthly basis in May (April: +3.5% mom).
As a result, the merchandise trade balance deteriorated from the previous month, swinging to a EUR 1.0 billion deficit in May (April 2022: EUR 3.1 billion surplus; May 2021: EUR 13.4 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a EUR 110.7 billion surplus in May, compared to the EUR 125.0 billion surplus in April.