German exports fall more than expected in February

By Maria Martinez

(Reuters) - German exports fell more than expected in February, as exports to European Union countries dropped, data from the Federal Statistics Office showed on Monday.

Exports declined by 2% month-on-month in February and were lower than the forecast for a 0.5% decrease in a Reuters poll.

Imports were up 3.2% on the month, the statistics office said.

The foreign trade balance showed a surplus of 21.4 billion euros ($23.17 billion) in February, down from 27.6 billion euros in January and 16.9 billion euros in February 2023.

Exports to EU countries dropped by 3.9% on the month, while exports to third countries increased by 0.4%.

Exports of goods to the United States were up 10.2% compared with January, while exports to China decreased by 0.6% on the month.

"German trade is experiencing shifts in global trade and geopolitical tensions," said Carsten Brzeski, global head of macro at ING.

($1 = 0.9234 euros)

(Reporting by Maria Martinez, Louis van Boxel-Woolf, Tristan Veyet and Halilcan Soran, Editing by Andrey Sychev and Jamie Freed)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Russia's FSB says minor detained over park attack threat after US tip-off
• German, Slovak die in suspected electrocution at hotel pool in India
• Iran, Qatari mediators hold third day of talks to end US-Iran war