Germany exports report fifth monthly rise

Germany exports report fifth monthly rise

Germany’s exports resumed rise for a fifth straight month in May, helping Europe’s biggest economy to report a widening trade surplus.

Overseas sales increased 1.4 percent in May, surpassing a 1.2 percent surge in imports, resulting in a trade surplus of 20.3 billion euros, compared to a revised surplus of 19.7 billion euros in April.

The year-on-year reading showed that exports edged up 14.1 percent to 110.6 billion euros, while imports advanced 16.2 percent to 88.6 billion euros.

Trade surplus in the year ended May widened to 22.0 billion euros from a prior surplus of 20.7 billion euros.    

As of 07:45 GMT, the euro traded slightly lower versus the U.S. dollar, as the USDCNY traded at 1.1398.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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