Germany Posts Trade Deficit For May as Costs of Imports Jump
By Xavier Fontdegloria
Germany swung to a trade deficit in May as exports fell and
imports grew amid high energy costs.
Germany's trade deficit--the balance of exports and imports of
goods--stood at 1 billion euros ($1.04 billion) in calendar and
seasonally adjusted terms in May after recording a EUR3.1 billion
surplus the previous month, data from German statistics office
Destatis showed Monday.
Economists polled by The Wall Street Journal were expecting a
surplus of EUR3.0 billion for May.
German exports fell 0.5% on month to EUR125.8 billion in May,
while imports increased 2.7% to EUR126.7 billion. Economists
expected a 0.9% increase in exports and a 0.2% advance in
Write to Xavier Fontdegloria at firstname.lastname@example.org
(END) Dow Jones Newswires
July 04, 2022 02:46 ET (06:46 GMT)
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