German trade surplus narrows on lower exports and higher imports

By @ibtimes on

German trade balance data for January showed that the surplus narrowed to 7.2 billion euros from the revised 19.3 billion euros, which was 11.9 billion euros initially, while analyst's expected the surplus to narrow to 13.0 billion euros.

Details revealed that imports rose 2.3% compared with the prior 2.3% drop which was revised to 2.6% fall and median forecasts of 1.5% rise. Exports, on the other hand, slipped 1.0%, missing both expectations and the prior reading of 0.7% and 0.5% advance respectively.

In addition, current account for the same month also showed a narrowed surplus to 10.1 billion euros relative to the preceding surplus of 17.6 billion euros, revised down to 12.2 billion euros, and projections of 10.5 billion euros surplus.

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