German exports, imports drop more than expected in February

FILE PHOTO: Aerial view of containers at a loading terminal in the port of Hamburg
FILE PHOTO: Aerial view of containers at a loading terminal in the port of Hamburg, Germany August 1, 2018. REUTERS/Fabian Bimmer/File Photo

April 8, 2019

BERLIN (Reuters) – German exports and imports both fell more than expected in February, data showed on Monday, in the latest sign that Europe’s largest economy is likely to post meager growth in the first quarter.

The Federal Statistics Office said seasonally adjusted exports dropped by 1.3 percent on the month while imports were down 1.6 percent. That meant the trade surplus edged up to 18.7 billion euros ($20.99 billion) from a revised 18.6 billion euros the previous month.

A Reuters poll of economists had pointed to a 0.5 percent decrease in exports and a 0.7 percent decline in imports. The trade surplus was expected to narrow to 18.0 billion euros.

(Reporting by Michael Nienaber; Editing by Michelle Martin)

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