Germany’s trade surplus expands to EUR 22.3 billion in March

Germany’s trade balance surplus has widened to EUR 22.3 billion in March from EUR 21.4 billion in February, the latest data by the Federal Statistical Office showed.

In comparison, market consensus had pointed to a surplus of EUR 22.4 billion.

Total exports went up 0.9% month-over-month to EUR 134.1 billion in March, while rebounding after a revised down 1.6% slump in February.

German shipments to EU nations rose 0.5%, sales to third countries went up 1.3%, while exports to the United States surged 3.6% and those to China – by 3.7%.

On the other hand, shipments to Russia plummeted 14.8% and those to the United Kingdom decreased 3.8%, the data showed.

Germany’s total imports went up 0.3% month-over-month to a seven-month high of EUR 111.9 billion in March, against market expectations of a 1% decline.

Purchases from EU nations went up 1.5%, while imports from non-EU countries decreased 1.1% in March.

German imports from China surged 14.3%, while those from the United States grew 2.7%.

The Euro was 0.14% firmer on the day against the US Dollar, with the EUR/USD currency pair last trading at 1.0783.