Germany: Trade surplus continues to widen in May
July 9, 2015
The seasonally- and calendar-adjusted trade surplus widened from EUR 21.5 billion in April to EUR 22.8 billion in May. The trade surplus rose over the previous month as exports grew at a faster pace than imports. Exports rose a seasonally-adjusted 1.7% over the previous month (April: +1.6% month-on-month). Meanwhile, imports expanded a mild 0.4% in May, which contrasted April’s 0.8% drop.
Compared to the same month last year, exports gained 4.6% in May (April: +7.6% year-on-year) and imports grew 3.0% annually (April: +3.3% yoy). The 12-month sum of exports to May grew 5.1% over the same period last year and the 12-month trade surplus totaled EUR 238.2 billion, reaching yet another all-time record high.
In a recent statement, the Federation of German Wholesale, Foreign Trade and Services (BGA) was very positive about May’s solid year-on-year rise in German exports and noted that exports picked up mainly thanks to increasing demand from France, Italy and Spain. According to the BGA, after a long dry spell this points to positive developments in the coming six months.