German exports rose 2.3 percent in January, driven by increased activity in all sectors of the economy, the German Federal Statistics Office, Destatis, said Friday.
Rebounding from a slump in December, Germany saw an increased trade surplus of $17.2 billion, representing an increase of 29 percent on the same time a year before and beating the predictions of analysts surveyed by Dow Jones Newswires.
Germany, Europe's largest economy, rebounded from a 4.4 percent drop in exports in December, to reach roughly $113.3 billion in exports in January, Destatis reported. Germany imported approximately $96 billion in commodities in January.
Approximately 59 percent of Germany's January exports, $67.1 billion, were to other European Union nations, while it received $59.2 billion in imports from other nations in the economic union.
Compared to the previous year, German exports within the EU rose 5.4 percent, while imports from union members rose by a higher rate at 7.4 percent. However, Germany exports outside of the EU rose 15.4 percent for the same period of time, while imports rose only a modest 4.5 percent.
The full implication of the news for the European economy remains unclear as Italy posted a larger-than-expected decline in industrial output in January, The Wall Street Journal reported.