German Exports Fall More Than Forecast

(RTTNews) – German exports and imports fell more than expected in December, Destatis figures showed on Monday.

Exports recorded a monthly decline of 4.6 percent in December, in contrast to the 3.5 percent increase in November. Shipments are expected to fall 2.0 percent.

Likewise, imports fell 6.7 percent, reversing a 1.5 percent gain in November. Economists forecast a moderate decline in imports of 1.8 percent.

As the decline in imports exceeded that of exports, the trade surplus increased to 22.2 billion euros compared to 20.8 billion euros a month ago. The surplus is expected to fall to 19.8 billion euros.

On an annual basis, the decline in exports deepened to 10.7 percent from 4.8 percent the previous month. Similarly, imports declined at a faster rate of 16.2 percent after a decline of 12.4 percent. The unadjusted foreign trade balance showed a surplus of 16.6 billion euros in December, compared to a surplus of 11.6 billion euros for the same period last year, Destatis reported.

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