German exports rose much more than forecast on the month in January and imports surged even more, narrowing the trade surplus, according to new new data.

Figures from the Federal Statistics Office showed seasonally-adjusted exports up 2.2 per cent, well above a consensus forecast for a rise of 1.4 per cent. Shipments abroad had fallen 0.9 per cent in December.

Imports increased by 4.1 per cent in January, more than double the highest forecast in a Reuters poll of 2 pe rcent. The consensus forecast was for a rise of 1.3 per cent.

The seasonally-adjusted trade surplus narrowed to €17.2 billion from a revised €18.3 billion in December.

Reuters