German exports record stronger-than-expected recovery in May
08 Jul 2011
Exports from Germany recorded a stronger than expected recovery in May, dispelling economists' fears of the economy slowing down.
Export of goods and services rose 4.3 per cent to 92.1 billion euros ($132 billion) from a month earlier and 19.9 per cent in y-o-y, Germany's Federal Statistical Office said.
Imports also rose by 3.7 per cent to €77.3 billion in May and 15.6 per cent higher in y-o-y, with the country's trade surplus jumping from 10.8 billion to 14.8 billion euros.
The May export recovery to some extent reverses a 5.6 per cent decrease in April, which generated concern whether the economic was set to slowdown, after the post-recession trade bounce peaked out in March.
Exports to other eurozone nations was up 16.1 per cent at €36.8 billion y-o-y, but was comparatively less to exports to other regions. Exports to non- eurozone nations were up 23.8 per cent y-o-y.
Exports got a boost from the demand from China, the world's leading emerging economy coupled with a weak euro.
