German exports grew sequentially in May. According to Destatis, the value of exported goods rose to EUR 113.9 billion, while the value of imported goods came in at EUR 93.4 billion. The provisional data showed that German exports grew 4.5 percent and imports 4.9 percent, year-on-year. Sequentially, exports rose 1.1 percent, while imports dropped 0.5 percent.
The foreign trade balance showed a surplus of EUR 20.6 billion in May, as compared with the surplus of EUR 20 billion seen in May 2018. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of EUR 18.7 billion this month.
The provisional data showed that the current account of the balance of payments indicated a surplus of EUR 16.5 billion, which takes into account the balances of trade in goods including supplementary trade items, services, primary income and secondary income. The German current account showed a surplus of EUR 13 billion in May.
Germany’s exports to the EU nations valued at EUR 66.1 billion, while the imports value EUR 54.2 billion. On a year-on-year basis, exports to EU nations rose 0.6 percent, whereas imports rose 4.7 percent. Exports to the nations outside the European Union rose 10.4 percent year-on-year and the imports came in at 5.1 percent.
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