Germany sees unexpected boost to imports and exports

Imports and Exports | | MIC Customs Solutions |

Germany has beaten the odds to post positive trade figures for December 2018.

New data has shown that both imports to and exports from Germany rose during December 2018, despite gloomy forecasts.

Figures from the Federal Statistical Office stated that exports rose by a calendar and seasonally-adjusted 1.5 per cent from November, the fastest gain since the 1.6 per cent witnessed last May.

Economists had only expected growth of 0.5 per cent after a decline in November.

Meanwhile, imports were boosted to the tune of 1.2 per cent, despite growth forecasts of just 0.4 per cent.

On a year-on-year basis, exports still decreased by 4.5 per cent and imports remained unchanged during December.

ING economist Carsten Brzeski said: "Today's trade data is a welcome sign of life, confirming our view that the assessment of the German economy currently needs less black-and-white thinking and is more nuanced."

The news comes after the European Commission reduced the German growth forecast to 1.1 per cent earlier this month.

An automotive industry struggling with new emissions tests and import taxes from the US and China have all been hurting the nation's economic outlook.