April 8 Reuters German exports fell more than expected in February, as exports to European Union countries dropped, data from the Federal Statistics Office showed on Monday.

Exports declined by 2 monthonmonth in February and were lower than the forecast for a 0.5 decrease in a Reuters poll.

Imports were up 3.2 on the month, the statistics office said.

The foreign trade balance showed a surplus of 21.4 billion euros 23.17 billion in February, down from 27.6 billion euros in January and 16.9 billion euros in February 2023.

Exports to EU countries dropped by 3.9 on the month, while exports to third countries increased by 0.4.

Exports of goods to the United States were up 10.2 compared with January, while exports to China decreased by 0.6 on the month.

German trade is experiencing shifts in global trade and geopolitical tensions, said Carsten Brzeski, global head of macro at ING.

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Reporting by Maria Martinez, Louis van BoxelWoolf, Tristan Veyet and Halilcan Soran, Editing by Andrey Sychev and Jamie Freed

Source Reuters