BERLIN (Reuters) – German exports unexpectedly fell in May on a month-on-month basis, while imports beat forecasts by rising 2.7%, according to data released by the Federal Statistical Office on Monday.
Exports fell 0.5% in May over one month while economists polled by Reuters had forecast a rise of 0.9% and a similar increase for imports.
Germany’s exports to Russia rose 29.4% in May from April, the office said, after falling 60% in March amid Western sanctions against Moscow after the invasion of Ukraine.
In May, Germany recorded a seasonally adjusted trade deficit of 1 billion euros, according to the office, against a forecast of 2.7 billion euros.
(Reporting Miranda Murray; French version Diana Mandiá, editing by Kate Entringer)
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