Singular Bank | According to Destatis, in January, German goods exports fell by 2.3% compared to the previous month (against an increase of 3.9% in December), standing at €130.5 billion.
Meanwhile, imports of goods recorded a notable drop of 5.9% month-on-month (against an increase of 1.3% in December) to a total of €109.2 billion. Given this development, Germany’s trade surplus increased to €21.2 billion (against €17.4 billion in December), exceeding analysts’ consensus projections (€15.4 billion).
In January, according to the French Ministry of Economy, goods exports rebounded slightly by 0.8% month-on-month (compared to 1.5% in December), reaching a total of €53.4 billion. Meanwhile, imports fell by 3.5% month-on-month (against 1.8% in December) to a total of €55.3 billion. Given this development, the trade deficit narrowed significantly by 55.8% month-on-month to €1.9 billion (against €4.3 billion in December).
