German exports since 2009, the largest decline since the end of May, while imports grew much more than expected, in a sign that Europe's largest economy is trying to sell its products abroad, while domestic demand is robust.
The seasonally adjusted exports fell by 2.4 percent, the Federal Bureau of Statistics data show that more than a Reuters poll forecast to decline by 0.4% and undershoot, and even the lowest estimate of 1.2%, down consensus fall further.
Shipped to foreign countries, the traditional backbone of the German economy, suffering from eating far this year as the euro zone crisis in Europe, Germany's largest export market demand, China's economic growth slowed to reduce appetite country many German companies have looked to as a substitute .
In Carsten Brzeski, senior economist at ING, said: "German exports dropped significantly in May, indicating that the economy is still having difficulty transferring to a higher gear, increase, which is due to the calendar effect and the demand from China weak.
Division of unadjusted data showed the euro zone, Germany will 40% of its shipments, exports declined by 9.6% in May, down 1.6 percent over last year, while exports to countries outside Europe.
Although trade data is backward-looking, released last week, purchasing managers survey showed that the export situation is not improved in June, booking from abroad, especially in Asia and elsewhere in Europe, the fourth consecutive monthly decline in the manufacturing sector.
Government expects exports dragged down GDP (GDP) this year, relying instead on private consumption in order to support economic growth, thanks to higher wages, a strong labor market and moderate inflation.
Stronger imports
Imports grew by 1.7%, so the government is good news, because it shows that German buy more goods from abroad.
"Import strength shows strong domestic demand, German economic growth, as consumption and investment to make a positive contribution to GDP, which is good, said:" Christian Schulz at Berenberg Bank.
Rise in imports, which palate even the highest estimate of 1.2 percent, a Reuters survey, also provides struggling eurozone countries seek to export their way out of recession hope.
During the early years of the euro zone crisis, the German bastion of economic strength, but it weakens the last year, are now trying to overcome the contraction in the end of 2012 to 2013, a modest beginning, it just avoids recession, because private consumption.
Recent data have been mixed from Europe's economic powerhouse, improve confidence survey, the private sector expansion, falling unemployment, retail sales rose, but industrial orders fell.
Downward revision of $ 1.75 billion in April, the seasonally adjusted trade surplus narrowed to 14.1 one billion euros. Market expectations for a decline to 17.5 one billion euros.
German economy within the euro area is still outperforming its peers. Last week, data showed, France's trade deficit expanded dramatically around the world in May.
 



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