German exports up 2.7% in February after fall in January

8th April 2011, Comments 0 comments

German exports picked up in February after a small decline in January, official figures showed Friday, another sign of sustained economic activity in Europe's powerhouse.

Exports rose 2.7 percent from January to a calendar- and seasonally-adjusted 84 billion euros ($121 billion), the Destatis statistics office said, while imports were 3.7 percent higher at 71.9 billion euros.

Germany showed an unadjusted trade surplus of 12.1 billion euros, down from 12.7 billion euros a year earlier.

Economists polled by Dow Jones Newswires had forecast a slightly higher surplus of 12.5 billion euros.

In January, German exports declined 1.0 percent while imports rose 3.7 percent, Destatis said, revising the import figure from an initial estimate of 2.3 percent for Europe's biggest economy.

On a 12-month basis, exports rose 21 percent in February, while imports were 27 percent higher.

Germany's current account surplus, a broader measure of trade in goods and services, fell to 8.9 billion euros in February on an unadjusted basis from 10.2 billion euros a year earlier, Destatis said.

Analysts had expected a much higher figure of 12 billion euros.

© 2011 AFP

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