German exports increases by 14.1% in May

Posted by Richard Strauss

germany-trade

 

German exports increased by 14.1 percent and imports by 16.2 percent year on year in May, the country’s Federal Statistical Office reported Monday.

In seasonally adjusted terms, exports went up by 1.4 percent and imports by 1.2 percent compared with that of April.

Germany exported goods with a total value of 110.6 billion euros (125.9 billion U.S. dollars) and imported goods to the value of 88.6 billion euros in May. The value of the goods exported to member states of the European Union was 64.2 billion euros, while the import value from those countries was 57.8 billion euros.

The export of goods to countries outside of the European Union totaled 46.4 billion euros in May 2017 and the import from those countries amounted to 30.8 billion euros. This represents a year on year increase of exports of 17.3 percent and 22.3 percent increase of imports.

Germany’s foreign trade balance featured a surplus of 22.0 billion euros in May 2017, compared to 20.7 billion euros in May 2016. (1 euro = 1.14 U.S. dollars