German exports rise significantly more than expected in February

April 04, 2023 09:22 AM MSK | By Reuters
Image source: Reuters

BERLIN (Reuters) - German exports rose significantly more than expected in February due to strong demand from the United States and China, data showed on Tuesday.

Exports increased by 4.0% on the previous month, the federal statistics office said. A Reuters poll had predicted a month-on-month rise in exports of 1.6%.

Imports grew by 4.6% compared with January, the office reported, versus analysts' expectations for a 1.0% rise.

The foreign trade balance showed a surplus of 16.0 billion euros ($17.42 billion) in February, up from 10.7 billion euros in the same month of the previous year, both in calendar and seasonally adjusted terms.

Supply chain problems, the energy crisis and geopolitical risks are expected to take their toll on exporting companies this year.

The German Chamber of Commerce and Industry DIHK forecasts real export growth of 2.5% in 2023, one percentage point below average growth during the previous decade.

(Reporting by Linda Pasquini and Maria Martinez, editing by Friederike Heine)

Top LSE Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK