Germany: Exports contract in April
June 9, 2017
In April, the seasonally- and calendar-adjusted trade surplus was stable at March’s EUR 19.8. In April, exports grew 0.9% from the previous month, up from March’s 0.4% expansion. Imports grew 1.2% in April, down from March’s 2.1%.
Compared to the same month of the previous year, exports contracted 2.9% in April, contrasting March’s 10.8% rise. Import growth slowed to 5.4%, down from 14.8% in March. In the 12 months up to April, exports grew an annual 2.5%, down from March’s 3.1% increase. Imports followed the opposite trend, accelerating to 3.4% from 3.0% and pushing down the 12-month trade balance from EUR 246.8 billion to EUR 243.5 billion in April.
In a recent statement, the Federation of German Wholesale, Foreign Trade and Services (BGA) commented that April’s trade data highlighted the negative effect Brexit-related uncertainty was having on Germany’s trade performance, noting that the UK was Germany’s third largest export market.
Author: Christopher Mc Innes, Economist