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German exports post biggest fall in 10 months in March
May 9, 2014 / 6:31 AM / 4 years ago

German exports post biggest fall in 10 months in March

BERLIN (Reuters) - German exports posted their biggest fall in nearly a year in March and imports also fell, narrowing the trade surplus in Europe’s largest economy and confirming that trade was a drag on growth at the start of 2014.

Cars and containers are pictured at a shipping terminal in the harbour of the German northern town of Bremerhaven, late October 8, 2012. REUTERS/Fabian Bimmer

Figures from the Federal Statistics Office showed seasonally-adjusted exports slipped 1.8 percent on the month, their second consecutive fall, and imports dipped 0.9 percent, pushing the trade surplus down to 14.8 billion euros.

The consensus forecast in a Reuters poll of economists had been for shipments abroad to rise by 1 percent and for imports to increase by 0.5 percent.

The seasonally adjusted trade balance compared with a surplus of 15.8 billion euros in February.

Reporting by Berlin bureau; Editing by Noah Barkin

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