German exports fall more than forecast in May

2024.07.08 02:33

By Maria Martinez

(Reuters) -German exports fell more than expected in May, due to weak demand from China, the U.S and European countries, data from the federal statistics office showed on Monday.

Exports fell by 3.6% in May compared with the previous month, compared with the 1.9% decrease forecast by analysts in a Reuters poll.

The foreign trade balance showed a surplus of 24.9 billion euros ($26.94 billion) in May, following 22.2 billion euros in April and 16.8 billion euros in May of the previous year.

Exports to EU countries dropped by 2.5% in May on the month and exports to countries outside the EU declined by 4.9%, the statistics office reported.

($1 = 0.9243 euros)

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