German Exports Fall by 2.5% in January, but Industrial Production Rises
German exports declined in January, narrowing the trade surplus of Europe's largest economy as imports increased, while industrial production rose during the same period.
Data released on Monday by the Federal Statistics Office showed that German exports fell by 2.5% month-on-month in January, contrary to expectations of a 0.5% increase.
At the same time, imports rose by 1.2%, reducing the trade surplus to €16 billion ($17.34 billion) from €20.7 billion in December, according to Reuters.
The data indicated that German exports to European Union countries dropped by 4.2%, while exports to other economies declined by 0.4%.
Most of Germany’s exports in January were directed to the United States, despite a 4.2% decline, as shown in the data.
Separate data released today also showed that German industrial production rose by 2% month-on-month in January, exceeding expectations of a 1.5% increase.
Industrial production in January was higher than the fourth-quarter average of 2024, which raises hopes that it will not decline during the first three months of this year, according to Ralph Solveen, chief economist at Commerzbank, in a comment to the agency
