Forex News

Germany's export sales fell in April, while imports increased

Germany's export sales fell in April, while imports increased after falling for three consecutive months, data showed on Friday. Export sales declined seasonally by 0.3 percent in April on a monthly basis, after an increase of 1.8 percent in March. The April figure was in line with expectations. Meanwhile, imports increased by 2.2 percent against a fall of 0.2 percent in March. Economists forecast an increase of 0.6 percent. As a result, the trade surplus fell to 19.4 billion euros from 21.6 billion euros in the previous month. On an annual basis, export sales fell 9.3 percent after a drop of 1.7 percent earlier. Similarly, imports increased by 8.2 percent after a decrease of 1.7 percent in March. Excluding seasonal adjustments, the trade surplus fell to EUR 20.4 billion from EUR 17.8 billion in the previous year. The current account balance amounted to 22.7 billion euros in April against 16.7 billion euros in the reporting period last year.