German Exports Suffer Sharp Fall in June

August 8, 2017 Share Print 0

German exports fell more than expected in June and imports sank even more sharply, widening the trade surplus in Europe’s biggest economy, data showed on Tuesday.

Seasonally adjusted exports dropped by 2.8 percent, the sharpest fall since August 2015 that ended five consecutive months of growth. Imports were down 4.5 percent, the biggest drop since January 2009, data from the Federal Statistics Office showed.

Both figures confounded expectations in a Reuters poll that had pointed to exports edging down 0.3 percent and imports rising by 0.2 percent.

Reuters

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.