Germany January trade balance €14.3 billion vs €14.5 billion expected

Latest data released by Destatis – 9 March 2021

  • Prior €14.8 billion; revised to €15.2 billion
  • Current account balance €16.9 billion vs €21.8 billion expected
  • Prior €28.2 billion
  • Exports +1.4% vs -1.8% m/m expected
  • Prior +0.1%; revised to +0.4%
  • Imports -4.7% vs -1.9% m/m expected
  • Prior -0.1%

The report is a little bit mixed as the non-seasonally adjusted readings show a decline in exports, leading to the narrower trade surplus as per the headline. But the seasonally adjusted reading shows a growth of 1.4% m/m, so that’s something to take note of.
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Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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