Germany's Trade Surplus Steadies in April on Rise in Exports and Imports
FRANKFURT-Germany's adjusted trade surplus was unchanged in April, after exports and imports picked up further compared with March, reflecting the recovery in German export trade since the start of the year.
Total exports of goods increased for the fourth straight month to a record of EUR106.3 billion ($119.2 billion) in April, the Destatis statistics office said Friday, referring to data that are adjusted for seasonal swings and calendar effects. Goods imports rose by 1.2% to EUR86.6 billion, which is also a record, a statistician at Destatis said.
As a consequence, the adjusted trade surplus--or the balance of exports and imports-was stable at EUR19.8 billion. Economists polled by The Wall Street Journal had forecast a surplus of EUR20.0 billion.
German exports have picked up notably since the start of the year, led by stronger demand from China and India.
Germany's current-account surplus-the gap between what it earns from and what it spends in overseas markets-came in at EUR15.1 billion in April, in non-adjusted terms, the statistics office said, referring to data that were largely compiled by Germany's central bank. The outcome fell short of a surplus of EUR28.1 billion recorded April last year.
A fewer number of working days in April this year compared with April 2016 might have contributed to the decline, a statistician at Destatis said. Economists polled by The Wall Street Journal had forecast a current account surplus of EUR24.5 billion.
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(END) Dow Jones Newswires
June 09, 2017 02:49 ET (06:49 GMT)