German exports rose in January but at a slower pace than imports, shrinking the trade surplus, according to Germany’s Destatis statistical service.
Exports increased by 7.5% on a monthly basis and in adjusted terms, while imports increased by 22.1%.
As trade with Russia was not yet restricted in January by sanctions imposed in response to the attack on Ukraine, exports and imports rose sharply in January from December.
Exports increased by 4% from February 2020, the month before the pandemic restrictions, while imports increased by 17.8%.
Germany’s trade surplus stood at 9.4 billion euros in calendar and seasonally adjusted terms in January.
Analysts expected a trade surplus of 8 billion euros. In January 2021, the surplus was 20.7 billion euros.
Compared to December, exports to EU countries decreased by 9.6% in January, while imports from these countries decreased by 6.8%.
Source: Capital
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