German exports and imports rise year-on-year in February

German exports rose on an annual basis, but it fell sequentially in the month of February. The Federal Statistical Office showed that the German exports rose 3.9 percent and that the imports rose 5.1 percent on a year-on-year. On a sequential basis, exports dropped 1.3 percent and imports fell 1.6 percent.

The foreign trade balance showed a surplus of EUR 17.9 billion, as compared with February 2018’s surplus of EUR 18.3 billion. On a sequential basis, the foreign trade balance saw a surplus of EUR 18.7 in the month.

The provisional results of the Deutsche Budesbank, the current account of the balance of payments showed a surplus of EUR 16.3 billion in February, which takes into account the balances of trade in goods including supplementary trade items, services, primary income and secondary income. In February 2018, the February current account showed a surplus of EUR 19.5 billion.

Germany exported goods to the value EUR 65.7 billion to the Member States of the European Union in February, while it imported goods to the value of EUR 53.2 billion from those nations. Compared with February 2018, exports to the EU nations rose 3.8 percent and imports were up 6.7 percent.  Export to countries outside the EU rose 4.1 percent, whereas imports rose 3 percent.

At 13:00 GMT the FxWirePro's Hourly Strength Index of Euro was highly bullish at 130.681 while the FxWirePro's Hourly Strength Index of US Dollar was neutral at -47.5543 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex