German Exports Resume Growth
Exports from Germany, Europe's biggest economy, bounced back in May, helping the country's trade surplus to widen, official figures showed Friday.
Germany exported goods and services worth €92.1 billion ($132 billion) in May, the Federal Statistical Office said. That was up 4.3 percent from the previous month and 19.9 percent in year-on-year terms.
The monthly increase did not make up for the 5.6 percent decrease in April, but that followed a surge in the previous month.
Year-on-year growth in exports to other eurozone nations — up 16.1 percent at €36.8 billion — was a bit weaker than the increase in deliveries to other regions. Exports to non-EU countries were up 23.8 percent.
Imports also improved after a dip. Total imports totaled €77.3 billion in May, up 3.7 percent on the previous month and 15.6 percent higher in year-on-year terms.
Overall, Germany's trade surplus widened to €14.8 billion in May from €10.8 billion in April.
A German recovery that initially was driven by exports is increasingly bolstered by improving domestic demand. The strong growth has pushed down unemployment.
Separate statistics released Friday showed corporate bankruptcies continuing to decline. In April, 2,587 companies filed for bankruptcy protection — 7.4 percent fewer than a year earlier.
Source: Associated Press
| Copyright © 2012 Naharnet.com. All Rights Reserved. | https://www.naharnet.com/stories/en/9967 |