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Germany Exports Rebound In May

Germany exports rebounded in May, while imports continued to fall, data from Destatis revealed Monday.

Exports advanced 1.1 percent month-on-month in May, in contrast to a 3.4 percent decrease in April. Shipments were forecast to advance 0.8 percent.

Meanwhile, imports dropped unexpectedly by 0.5 percent, following a 0.9 percent drop in April. Economists had forecast a 0.4 percent increase.

As a result, the trade surplus increased to EUR 18.7 billion from EUR 16.9 billion in the previous month.

On a yearly basis, exports advanced 4.5 percent versus a 0.2 percent drop in April. At the same time, growth in imports climbed to 4.9 percent from 2.5 percent.

The current account surplus totaled EUR 16.5 billion in May compared to EUR 13 billion last year.

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