Germany: Trade surplus hits new record in April, while exports remain unchanged
June 9, 2016
The seasonally- and calendar-adjusted trade surplus increased from EUR 23.8 billion in March to EUR 24.0 billion in April, which marked a record high. The trade surplus widened over the previous month as imports dropped and exports were unchanged. On a seasonally-adjusted basis, exports recorded flat growth over the previous month (March: +1.9% month-on-month). Meanwhile, imports decreased 0.2% in April over the previous month (Mach: -2.3% mom).
Compared to the same month last year, exports increased 3.8% in April, which contrasted March’s 0.5% drop. Imports were unchanged compared to the same month last year (March: -4.3% year-on-year), bringing the 12-month trade balance to yet another record-high of EUR 250.9 billion.
In a recent statement, the Federation of German Wholesale, Foreign Trade and Services (BGA) commented that German exports grew at a solid pace in April, despite the fact that global trade showed little dynamism. The BGA highlighted that exports were mainly supported by demand from EU-countries.