German exports ticked up in April, official data showed on Wednesday, rising for the 12th consecutive month as Europe’s top economy recovers from the coronavirus pandemic.
Demand for “made in Germany” goods climbed 0.3 per cent month-on-month in seasonally adjusted figures, federal statistics office Destatis said. Compared with February 2020, the month before the pandemic forced worldwide curbs on economic activity, exports were just 0.5 per cent lower in April.
Imports meanwhile fell 1.7 per cent month-on-month, as German manufacturers struggled to get their hands on key raw materials, including semiconductors and lumber. Some analysts have voiced concern that the ongoing supply chain disruptions could slow Germany’s rebound as the export powerhouse emerges from months of shutdowns.
Analysts have voiced concern that the ongoing supply chain disruptions could slow Germany’s rebound as the export powerhouse emerges from months of shutdowns
But Economy Minister Peter Altmaier remains optimistic. He said last week he expects the German economy to grow by up to four per cent this year, raising an earlier forecast of 3.5 per cent.
According to Destatis, Germany’s trade surplus – often criticised by partners and allies as a sign of economic imbalances – increased to €15.9 billion in April from €14.3bn in March.
Independent journalism costs money. Support Times of Malta for the price of a coffee.Support Us