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German exports post surprise fall in December

Fri, 7th Feb 2014 08:05

Berlin (Alliance News) - German exports posted a surprise fall in December, bringing to an end four consecutive monthly gains, the Federal Statistics Office said Friday.

Monthly exports from Europe's biggest economy fell by 0.9% in December after gaining 0.7% in November. Analysts had expected a rise of 0.8%.

Imports also dropped unexpectedly in December, by 0.6%, after contracting by 2.3% in November, the data showed. Analysts had forecast a 1.2% increase.

This resulted in the calendar and seasonally adjusted trade surplus narrowing to 18.5 billion euros (25.13 billion dollars) in December from 18.9 billion euros in November.

For the full year, exports slipped by 0.2% while imports dropped by 1.2% compared with 2012.

This represented the first full-year fall in exports since the 2009 recession.

Germany's trade balance widened year on year to a record 198.9 billion euros, the statistics office said.

Copyright dpa

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