|
Exports rose 4.4% from the previous month, the Federal
Statistical Office said, almost three times the 1.5% increase
predicted by economists in a Reuters poll.
In March, exports had fallen by 3%.
The boost for Germany's export-driven economy came despite a
collapse in trade with Russia over recent months due to severe
sanctions imposed by the West in a bid to punish Moscow for its
invasion of Ukraine.
Exports from Germany to Russia dropped 10% in April after
plummeting 60% in March, the statistics office said.
Imports also increased more than expected in April, by 3.1%,
following a 3.2% rise in March, the statistics office reported.
ING chief economist Carsten Brzeski called the April trade data
a "pleasant surprise".
"German exports have defied renewed supply chain disruptions and
the economic impact of the war in Ukraine. At least for now," he
said.
However, the Chambers of Industry and Commerce (DIHK) warned
that the upswing could be short-lived.
"The export engine is grinding tremendously," said DIHK foreign
trade chief Volker Treier, adding that the April growth was
solely due to price increases in exports, which had actually
fallen in real terms.
Supply-chain bottlenecks were yet to come - but with some delay
- as a result of China's weeks-long COVID lockdowns, Treier
said.
The DIHK expects German exports to stagnate in 2022 on the
whole.
(Reporting by Rachel More and Rene Wagner, Editing by Miranda
Murray and Hugh Lawson)
[© 2022 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
