German exports in April rose more sharply than expected while industrial output also posted a strong rise, signalling a good start for the Eurozone's largest economy at the start of the second quarter.
German merchandise exports to the value of €100.4bn and imported goods to the value of €78.3bn in April 2015. Destatis, the federal statistics office, reported Monday that that German exports increased by 7.5% and imports by 2.8% in April 2015 year on year. Exports and imports showed diverging month-on-month trends on a calendar and seasonally adjusted basis. While exports rose by 1.9% on March 2015, imports were down 1.3%.
Destatis also reported Monday that in April 2015, industrial production was up by 0.9% from the previous month on a price, seasonally and working day adjusted basis. In March 2015, revised data show a decrease of 0.4% (primary –0.5%) from February 2015. In April 2015, production in industry excluding energy and construction was up by 0.7%. Within industry, the production of capital goods increased by 1.5% and the production of intermediate goods by 0.7%. An decrease of production was recorded for consumer goods (0.9%). Energy production was up by 1.4% in April 2015, while the production in construction increased by 1.3%.
The foreign trade balance showed a surplus of €22.1bn in April 2015. In April 2014, the surplus amounted to +€17.3bn. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of €22.3bn in April 2015.
According to provisional results of the Deutsche Bundesbank, the central bank, the current account of the balance of payments showed a surplus of €19.6bn in April 2015, which takes into account the balances of trade in goods including supplementary trade items (+€24.4bn), services (–€2.6bn), primary income (+€0.9bn) and secondary income (–€3.2bn). In April 2014, the German current account showed a surplus of €16.9bn.
In April 2015, Germany shipped goods to the value of €57.1bn to the member states of the European Union (EU), while it received goods to the value of €51.6bn from those countries. Compared with April 2014, exports to the EU countries increased by 4.5%, and imports from those countries by 1.7%. Goods to the value of €36.3bn (+3.3%) were dispatched to the Euro area countries in April 2015, while the value of the goods received from those countries was €35.8bn (+2.8%). In April 2015, goods to the value of €20.7bn (+6.6%) were dispatched to EU countries not belonging to the Euro area, while the value of the goods which arrived from those countries was €15.7bn (–0.8%).
Exports of goods to countries outside the European Union (third countries) amounted to €43.4bn in April 2015, while imports from those countries totalled €26.7bn. Compared with April 2014, exports to third countries increased by 11.8% and imports from those countries by 5.1%.