German exports rise in February, lifted by China trade
German exports rose in February, boosted by surging trade with China in a fresh sign that factories are busy in Europe’s largest economy despite an expected pandemic-related drop in overall output in the first quarter, Trend reports with reference to Reuters.
Seasonally adjusted exports increased by 0.9% on the month after an upwardly revised rise of 1.6% in January, the Federal Statistics Office said on Friday. Imports rose 3.6% after falling 3.5% in the prior month.
A Reuters poll had pointed to a 1.0% increase in exports and a 2.4% rise in imports. The trade surplus shrank to 19.1 billion euros. On the year, exports to China increased by 25.7%.
Separate data released on Friday showed industrial output in February fell by 1.6%. A Reuters poll had pointed to a rise of 1.5%.