CAPTION: Germany exports rebound in February. (icture alliance/dpa)
German exports rebounded at a stronger than expected pace in February, data from the Federal Statistical Agency, Destatis, showed.
Exports grew 6.4% on a monthly basis, reversing a 3.0% fall in January. Shipments were forecast to climb 1.5%.
Likewise, imports advanced 4.5% in February, in contrast to the 4.0% fall a month ago. Economists had expected monthly growth of 1.4%.
The trade surplus rose to a seasonally adjusted €11.5 billion ($12.7 billion) from €8.9 billion in January. This was also well above economists' forecast of €9.6 billion.
On a yearly basis, exports grew 14.4% after rising 11.1% in the previous month. At the same time, growth in imports moderated to 24.5% from 25.9%.
The unadjusted trade surplus totaled €11.4 billion versus a €17.9 billion surplus in the same period last year.
In trade with Russia, exports decreased 6.3% and imports dropped 7.3% in February compared to January.
Trade with Russia was not restricted until late February but sanctions imposed against Russia will impact the trade figures in March, Destatis said.
Exports to the member states of the EU grew 10.4% month-on-month and imports from those nations rose only 5.2%.
Similarly, shipments to the euro area countries moved up 9.2% and imports from currency bloc gained 4.4%.
Most German exports went to the United States in February, with goods exports up 2.7%.
Meanwhile, imports from the US were down 2.5%.
Exports to China increased 6.4% and imports from China moved up 4.8%.
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