Friday, Germany's Federal Statistical Office announced that the trade surplus stood at EUR 11.3 billion in March, up from EUR 8.6 billion in February. Economists had predicted a surplus of EUR 8 billion. A year ago, the trade surplus was EUR 16.8 billion.

Exports dropped 15.8% year-on-year to EUR 70.3 billion in March, while imports declined 11.6% to EUR 59 billion.

On a monthly basis, exports and imports rose a seasonally and calendar adjusted 0.7% and 0.8%, respectively.

Meanwhile, the current account surplus stood at EUR 10.2 billion in March, up from EUR 6.8 billion in February. A year ago, the surplus was EUR 17.6 billion.

For the January to March period, the trade surplus amounted to EUR 26.9 billion, while the current account surplus totaled EUR 19.3 billion.

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