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German exports recover in May

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by Kay Mitchell
”German

Statistics office Destatis has today revealed German exports and imports recovered in May, giving a trade balance of €14.8 billion from €10.8 billion the previous month.

According to Destatis, exports were 4.3% higher on the month at €92.1 billion (£82 billion), higher than forecasts of a 1.5% rise and recovering from April’s fall of 5.6%.

Meanwhile, imports rose by 3.7% on a monthly basis.

On an annual basis, exports were 19.9% higher, while imports were up 15.6%.

The figures reinforce that Germany remains one of the bright spots in the euro zone with its falling unemployment levels and strong economic growth.

Germany is the world’s second largest exporter after China and export demand helped to bring Germany out of recession in the second quarter of 2009 – much sooner than many of its counterparts throughout the world.

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News posted: July 8, 2011

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