Rising demand from EU bolsters German exports in February

Imports and Exports | | MIC Customs Solutions |

Germany's export performance saw a resurgence in February, thanks to rising demand from other EU nations.

The performance of Germany's exports market improved in February at the strongest rate seen in five months.

Data from the country's Federal Statistics Office revealed that seasonally adjusted exports rose 1.3 per cent from January to €99.5 billion, after falling for the previous two months. This was a much better performance than economists had predicted.

Imports also edged up by 0.4 per cent, widening Germany's trade surplus to €19.8 billion. The improved performance seen during February has been attributed to growing demand from other EU markets.

However, the overall picture for the country's economy remains a challenging one, with consumption and construction figures seen as strong, while industry and exports continue to stagnate.

ING economist Carsten Brzeski told Reuters that Germany's exports appear to have "lost part of their magic and strength", noting that its net exports did not contribute positively to the country's quarterly GDP growth over the last two years.