Germany has trade surplus in February, but future forecasts are not good

English Apr 14, 2020

Germany recorded a trade surplus of 21.6 billion euros in February, according to seasonally adjusted data released today by the country's statistical agency, Destatis. Analysts surveyed by The Wall Street Journal had forecast a smaller positive balance in the month, of 17.2 billion euros. In February, German exports rose 1.3% compared to January, but imports decreased 1.6%.

Even though the country had solid results in February, the future situation tends to be negative. Germany's Gross Domestic Product is expected to contract by 4.2% in 2020, mainly due to the coronavirus pandemic and disease-related containment measures, according to a report released by the country's main economic research institutes.

The estimate is that German GDP shrank 1.9% in the first quarter and contracted 9.8% in the second quarter, due to the blockade imposed by the country's government to contain the spread of covid-19. If confirmed, the drop will be the largest ever recorded in Germany since the search for national accounts began in 1970, the report says.


Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.