German exports, imports reach record heights in March

BERLIN, Sha’ban 13, 1438, May 9, 2017, SPA — German exports rose to a new record high in March, but were outpaced by imports to slightly narrow the trade surplus, while factory production dropped slightly, according to two reports Tuesday from Europe’s largest economy, AP reported.
The Federal Statistical Office said exports hit an all-time high in March, rising 0.4 percent over February to 105.4 billion euros ($114.9 billion), while imports also set a new record with an increase of 2.4 percent to 85.8 billion euros in figures adjusted for seasonal and calendar variations.
That left the March trade surplus at 19.6 billion euros, down from 21.2 billion euros in February in adjusted terms.
In unadjusted figures, exports totaled 118.2 billion euros, while imports reached 92.9 billion euros for a trade surplus of 25.4 billion euros. A year earlier, the monthly surplus amounted to 25.8 billion euros.
In a separate report, the Statistical Office said German factory production dropped 0.4 percent in March over the previous month, according to adjusted figures, driven by weaker production of energy and capital goods. That followed a 1.8 percent rise in industrial production in February.
–SPA
15:17 LOCAL TIME 12:17 GMT