Surprise jump in German exports
July 9, 2015
Germany exported goods and services to the tune of 95.9 billion euros ($106.5 billion) during the month of May, a 4.6-percent rise compared with the same month a year ago and a 1.7-percent jump when compared to April. Analysts had expected a slight drop.
Exports to other EU countries made up the lion's share, rising by an annual 6.2 percent, with exports to eurozone countries up a significant 5.1 percent. But exports to non-EU countries also increased, logging a 2.3-percent rise.
"The weak euro is helping German exporters and demand for products 'made in Germany' remains high," Thomas Amend from HSBC Trinkaus, told the Reuters news agency.
He points out that exports will "give a significant impetus for GDP," alongside ongoing strong consumer demand. "The only weak spot are investments, which are lagging behind due to various crises in Russia, Ukraine and Greece," Amend added.
Imports, meanwhile, were also up slightly more than expected, rising by 0.4 percent in May, compared with April, with the annual figure up by 3 percent, leading to a trade surplus of 19.5 billion euros.
ng/jil (Reuters, AFP, dpa)