An increase of 1.4 percent in January – a setback, however, for imports
German exports unexpectedly picked up speed at the beginning of the year. Exports increased by 1.4 percent in a month-on-month comparison, as the Federal Statistical Office announced on Tuesday in Wiesbaden. Analysts were surprised by the development. At the beginning of the year, they had expected an average decline in exports of 1.8 percent.
On the other hand, there was an unexpectedly strong setback in imports. Here the Federal Office reported a decrease of 4.7 percent in January compared to the month. Analysts had only assumed a minus of 1.9 percent.
The surplus in the German trade balance increased somewhat in January. Seasonally adjusted, it amounted to 22.2 billion euros, after 16.1 billion euros in December. The current account showed a surplus of 16.9 billion euros in January.
