German Exports, Imports Hit Record Levels in March
German exports rose in March to what the government’s statistics office says is the highest monthly figure ever recorded, but industrial production in Europe’s biggest economy slipped.
The Federal Statistical Office said Friday that Germany exported goods and services worth 107.5 billion euros ($122 billion), a 12.4% gain over a year earlier, while imports hit 84.5 billion euros – a 7.1% gain and also a record. Click here to read more.
China’s Exports Fall Unexpectedly In April
China’s exports logged an unexpected fall on weak demand in April and imports declined more than expected adding to hopes of more economic stimulus.
Exports fell 6.2% in April from last year in yuan terms, data from the General Administration of Customs showed Friday. Economists had forecast a 0.9% rise for April. Imports registered a double-digit decrease of 16.1% annually, sharper than an expected drop of 8.4%. Consequently, the trade surplus came in at CNY 210.2 billion, below the consensus forecast of CNY 173.8 billion. Click here to read more.
U.S. Trade Deficit Jumps to 6-year High of $51.4B
(Paul Davidson – USA Today)
The U.S. trade deficit widened to a 6½ year high in March as the resolution of a labor dispute at West Coast ports sparked a surge in imports and the strong dollar held back exports.
The trade gap jumped $15.5 billion, or 43%, to $51.4 billion, highest since October 2008, the Census Bureau said Tuesday. Economists expected a smaller increase to $41.7 billion.
Imports rose 7.7% to $239.2 billion, largely on a $9 billion rise in consumer goods, such as cellphones and apparel, a $4 billion increase in capital goods and a $2.7 billion rise in motor vehicles and parts. Click here to read more.