BERLIN, June 5 Reuters German exports rose unexpectedly in April, boosted by deliveries to China following its postpandemic reopening, but analysts warned that the momentum could be shortlived.

German exports increased by 1.2 on the previous month, the federal statistics office said. A Reuters poll had predicted a monthonmonth decline of 2.5.

April39;s increase follows a revised 6.0 plunge in exports the previous month. The increase is not nearly enough to make up for the sharp decline of the previous month, said Alexander Krueger, chief economist at Hauck Aufhaeuser Lampe bank.

Exports to China were up 10.1, while exports to the U.S. were up 4.7 and exports to the European Union rose 4.5, the office said.

This is a strong start to the second quarter for net exports, but we doubt it will be enough to provide a boost to GDP growth, Pantheon Macroeconomics39; chief euro zone economist Claus Vistesen said. The upturn in net exports, which helped GDP growth in 4Q and 1Q, is now petering out.

Imports fell by 1.7 compared with March, versus analysts39; expectations for a 1.0 fall.

The foreign trade balance showed a surplus of 18.4 billion euros 19.68 billion in April, up from 14.9 billion euros the previous month.

CLOUDED OUTLOOK

Despite April39;s increase in exports, the outlook remains clouded.

The temporary push in exports to China will fade with time, ING39;s global head of macro at ING Carsten Brzeski told Reuters. He added that exports to China would also…

Leave A Comment