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German Exports Grow for 11th Month Running

German Exports Grow for 11th Month Running

Friday, 7 May, 2021 - 08:15
Cars intended for export wait at the port for loading, as the spread of the coronavirus disease (COVID-19) continues in Bremerhaven, Germany, April 24, 2020. REUTERS/Fabian Bimmer

German companies defied the coronavirus crisis to increase their exports for the eleventh month in a row in March, data from the Statistics Office showed on Friday, with export growth coming in at 1.2%, twice the rate economists had forecast.

Exports to Britain fell for the third month in a row since the country definitively left the European Union's internal market in on Jan. 1, shrinking by a further 13.2% to 6.5 billion euros ($7.8 billion). But imports from Britain rose slightly, by 1.6% to 3.1 billion euros.

Imports from the rest of the world also surged, with Germany importing 6.5% more by value in March than in the previous month, well ahead of a forecast of 0.7%, pushing the trade balance to its lowest level since last April.

The export surge lowered the trade balance to 14.3 billion euros ($17.2 billion), its lowest level since last April. ($1 = 0.8295 euros)

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