Germany’s exports expanded at a marginal pace in May, data from Destatis revealed on Thursday.
Exports grew only 0.3 percent month-on-month in May, following a 0.2 percent rise in April. Economists had forecast an increase of 0.6 percent.
At the same time, imports advanced 3.4 percent, reversing a 1.4 percent drop in the previous month. Exports were forecast to grow 0.4 percent.
As a result, the trade surplus fell to a seasonally adjusted EUR 12.6 billion from EUR 15.6 billion in the previous month. This was below the expected level of EUR 15.4 billion.
On a yearly basis, exports surged 36.4 percent and imports climbed 32.6 percent in May.
Data showed that the current account surplus increased to EUR 13.1 billion from EUR 7.1 billion in the last year.