BERLIN, April 4 (Reuters) – German exports rose more than expected in February on strong demand from the United States and China, data from the Federal Statistical Office (ONS) showed on Tuesday.
German exports rose 4.0% in February while analysts polled by Reuters had forecast a 1.6% rise.
Exports to the United States rose 9.4% in the month and those to Britain 2.5%, the data showed.
Exports to Russia fell 14.3% in February from January, seasonally adjusted, while imports from Russia fell 67.2% on the month.
Imports increased by 4.6% compared to January, against a rise of 1.0% expected by analysts.
Most of Germany’s imports came from China, amounting to 13.6 billion euros, up 6.7% from January.
The foreign trade balance showed a surplus of 16 billion euros in February, against 10.7 billion euros in the same period the previous year.
Supply chain issues, the energy crisis and geopolitical risks are expected to weigh on exporting companies this year.
The Chamber of Commerce and Industry in Germany (IHK) forecasts real export growth of 2.5% in 2023, one point below the average growth of the previous decade. (Writing Linda Pasquini, Maria Martinez, French version Gaëlle Sheehan, edited by Kate Entringer)
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