© Reuters. FILE PHOTO: Containers are seen on a terminal in the Port of Hamburg, November 14, 2019. REUTERS / Fabian Bimmer
BERLIN (Reuters) – German exports rose in April, triggered by increased trade with the United States, suggesting a sustained recovery in Europe’s largest economy.
Seasonally adjusted, exports increased by 0.3% compared to the previous month, after an upwardly corrected increase of 1.3% in March, the Federal Statistical Office announced on Wednesday.
“After eleven increases in a row, the export industry can take it easy. Especially since the outlook remains positive, ”said Alexander Krüger from Bankhaus Lampe.
Exports to the US rose 59.9% compared to April last year, shortly after Germany initiated its first lockdown to contain the coronavirus.
Over the year, exports to China rose 16% while sales to the UK rose 64%, the first increase since the start of the year and the completion of the UK’s exit from the European Union.
Imports fell 1.7% after a 7.1% increase in the previous month as more German companies reported bottlenecks and rising raw material costs.
“The scarcity of materials and the lack of preliminary products are a burden on industrial production,” said Thomas Gitzel from VP Bank.
A Reuters poll had indicated a 0.5% increase in exports and a 1.1% decrease in imports. The trade surplus rose from 14 billion euros in March to 15.9 billion euros.
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