German imports and exports both dropped in December
Germany's trade surplus unexpectedly widened in December as imports dropped sharply over the month, according to the country's federal statistics office Destatis.
Imports fell by 6.7% to €103.1bn after a revised 1.5% increase in November, much lower than the 1.5% decline expected by economists.
Exports also fell but by a lesser 4.6% to €125.3bn, following a revised 3.5% growth the month before – again worse than the 2.0% reduction predicted.
As a result, the trade surplus increased to €22.2bn, up from €20.7bn previously, above the consensus estimate of €18.8bn.
Claus Vistesen, said the key story in Monday's data was the overall collapse in trade volumes. "Admittedly, this comes after strong growth in both imports and exports in November, but still," Vistesen said.
"We always have to be careful with seasonals in December, but these are recessionary numbers, consistent with overall difficult economic conditions in the German economy."
Important Legal Notice about News Sources: Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news and we may not share the views of the author or publisher. We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.
The value of investments can fall and you may get back less than you invested.