German exports collapse in April as coronavirus hits demand

Pandemic sees exports fall 24% while imports slid 16.5%

Photograph: iStock

Photograph: iStock

 

German exports slumped in April as the coronavirus crisis slashed demand for goods from Europe’s biggest economy, the Federal Statistics Office said on Tuesday.

Seasonally adjusted exports dived 24 per cent on the month while imports slid by 16.5 per cent. The trade surplus shrank to €3.2 billion, the Statistics Office said.

Economists polled by Reuters had expected exports to fall by 15.6 per cent and saw imports down 16 per cent. The trade surplus was expected to come in at €10.0 billion. – Reuters