German exports developed surprisingly positively in April.
(Photo: dpa)
Berlin In April, German exports recovered surprisingly strongly from the shock after the outbreak of war in Ukraine. They grew by 4.4 percent on the previous month to 126.4 billion euros due to good business with the USA and the euro countries, as the Federal Statistical Office announced on Friday.
Economists surveyed by the Reuters news agency had only expected an increase of 1.5 percent after there had been a seasonally and calendar-adjusted decline of 3.0 percent in March. This time, imports also increased far more strongly than expected at 3.1 percent, after an increase of 3.2 percent in the previous month.
German exports to Russia fell by 10.0 percent to just 0.8 billion euros in April because of the sanctions in response to the war against Ukraine and other measures to restrict exports, after having collapsed by more than 60 percent in March were. Imports from Russia even fell by 16.4 percent to 3.7 billion euros. Germany mainly imports oil and natural gas from there.
German exports to the EU member states increased by 4.2 percent in April, those to the euro countries by as much as 5.9 percent. Exports to the main customer, the United States, increased by 7.7 percent, while those to China fell by 4.5 percent. The People’s Republic is currently fighting a new corona wave with rigid measures, which is also hindering global trade.
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According to a survey by the Ifo Institute, the mood among German exporters has brightened in May for the second month in a row. “But German industry remains cautious,” said Ifo President Clemens Fuest. “Logistics problems continue to represent a major burden.” There are therefore no signs of a great dynamic in exports at the moment. The Association of German Chambers of Industry and Commerce (DIHK) expects exports to stagnate this year.
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