GERMAN exports fell sharply in March against a month ago, a sign of fragility in Europe’s biggest economy, which recently reported stagnating growth for the first quarter.

Germany exported €129 billion (RM635.57 billion) worth of goods in March, down 5.2% from February, data published by federal statistics agency Destatis showed. 

The drop came after two straight months of growth. 

Imports fell as well during March, by 6.4% to €113 billion, leading to a trade surplus of €16.7 billion for the month.

Demand for German goods was down across the board, with exports to EU states slumping 6.2%.

Particularly concerning was a 10.9% drop in exports to the United States, a key market for Europe.

Overall, countries outside the EU imported 4.0% less from Germany.

On Friday, Germany posted official data showing flat growth in the first quarter, despite expectations for a slight rebound.

Analysts have warned that a slowdown in the United States could hurt Europe’s biggest economy. – AFP, May 4, 2023.