Germany's Federal Statistical Office (Destatis) announced Germany's foreign trade data for March. Accordingly, seasonally and calendar adjusted exports in the country decreased by 5.2 percent to 129.7 billion euros in March compared to the previous month, despite expectations of a 2.4 percent decrease.
In March, imports decreased by 6.4 percent to 113 billion euros, despite expectations of a 2 percent decrease. The decrease in imports was recorded as the biggest monthly decrease since the Covid-19 outbreak.
Thus, Germany's seasonally and calendar adjusted foreign trade surplus was 16.7 billion euros. In March 2022, the surplus was recorded as 4 billion euros.
Compared to March 2022, exports increased by 5 percent, while imports decreased by 5.5 percent.
In Germany, 69.3 billion euros of March exports were made to European Union (EU) countries. 60 billion euros of the country's imports also came from the EU. Germany's exports fell below expectations, decreasing by 5.2 per cent in March, with decreasing demand in China, Europe and the USA.
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