Daily Times

German exports fell more than expected in December due to weak global demand, data from the federal statistics office showed on Monday. Exports fell by 4.6% in December compared with the previous month. The result compared with a forecast 2.0% decrease in a Reuters poll. Exports to EU countries fell by 5.5% compared with the previous month, while exports to countries outside the EU declined by 3.5%, the office said. Imports fell by 6.7% from November, the federal statistics office reported, versus analysts’ expectations for a 1.5% decline. The foreign trade balance showed a calendar- and seasonally adjusted surplus of 22.2 billion euros ($23.92 billion) in December, versus a surplus of 20.8 billion euros the previous month. In 2023, exports were down 1.4% compared with 2022, while imports to Germany experienced a much sharper decline of 9.7%.