Germany Trade May 2017

Germany

Germany: Exports rebound in May

July 10, 2017

In May, the seasonally- and calendar-adjusted trade surplus inched up to EUR 20.3 billion from EUR 19.8 billion in April. In May, exports grew 1.4% from the previous month, up from April’s 0.9% expansion. Imports grew 1.2% in May, on par with April’s reading.

Compared to the same month of the previous year, exports sky-rocketed 14.1% in May, contrasting April’s 2.9% drop. Import growth accelerated to 16.3%, up from 5.4% in April. In the 12 months up to May, exports grew an annual 3.5%, up from April’s 2.5% increase. Imports followed the same trend, accelerating to 4.8% from 3.4% and pushing down the 12-month trade balance from EUR 243.5 billion to EUR 242.2 billion in May.

In a recent statement, the Federation of German Wholesale, Foreign Trade and Services (BGA) commented that May’s trade data was impressive, especially in light of continued Brexit-related uncertainty.


Author:, Economist

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Germany Trade Chart


Germany Trade12m May 2017

Note: 12-month sum of trade balance in EUR billion and annual variation of the 12-month sum of exports and imports in %.
Source: Federal Statistics Office (Destatis) and FocusEconomics calculations.


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