German exports dropped by an unexpectedly sharp 6.3% in January from the previous month, official statistics showed today, though order levels suggest they should rise again soon.
It was the first monthly fall since August in Europe's biggest economy, and came as imports grew by 6%, the Destatis statistics office said. That caused the German trade surplus for January to narrow to €8 billion from €13.4 billion in December.
Germany lost its title of leading global exporter to China last year.
A sharp rebound of 4.3% in German industrial orders in January suggests, however, that the export decline should ease in the coming months.
The fall in value by the euro against other major currencies should also boost German exporters.
Chinese exports still powering ahead
Earlier figures showed that Chinese exports and imports grew faster than expected in February, underlining the momentum behind the world's third-largest economy.
Economists cautioned against over-interpreting the figures, which were skewed by the timing of the long Lunar New Year holiday.
Exports jumped 45.7% in February from a year earlier, following a 21% rise in January, while imports surged 44.7% after record growth of 85.5% in January, the General Administration of Customs said. China reported a trade surplus for February of $7.6 billion, compared with $14.2 billion in January.
