Berlin, July 8, (dpa-AFX/GNA) – Germany’s exports expanded at a marginal pace in May, data from Destatis revealed on Thursday.
Exports grew only 0.3 per cent month-on-month in May, following a 0.2 per cent rise in April.
Economists had forecast an increase of 0.6 per cent.
At the same time, imports advanced 3.4 per cent, reversing a 1.4 per cent drop in the previous month.
Exports were forecast to grow 0.4 per cent.
As a result, the trade surplus fell to a seasonally adjusted 12.6 billion euros (14.8 billion dollars) from 15.6 billion euros in the previous month.
This was below the expected level of 15.4 billion euros.
On a yearly basis, exports surged 36.4 per cent and imports climbed 32.6 per cent in May.
Data showed that the current account surplus increased to 13.1 billion euros from 7.1 billion euros in the last year.
GNA