German imports have risen at their fastest rate since unification in 1990, outpacing a sharp rise in exports.
Imports rose by 14.8% in May compared with the previous month, while exports grew by 9.2%. Both figures were much higher than analysts had expected.
As a result, Germany’s trade surplus narrowed to 10.6bn euros ($13.4bn; £8.8bn) for the month.
Analysts said the data showed Europe’s biggest economy was growing strongly.
The reason, they said, was strong demand for German goods in Asia. A weakening euro, which makes the goods cheaper overseas, had also helped.
The euro has been hit in recent months by concerns about government debt levels and, more recently, by fears about the liquidity levels of banks.
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Dean Popplewell
He has a deep understanding of market fundamentals and the impact of global events on capital markets.
He is respected among professional traders for his skilled analysis and career history as global head
of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean
has played an instrumental role in driving awareness of the forex market as an emerging asset class
for retail investors, as well as providing expert counsel to a number of internal teams on how to best
serve clients and industry stakeholders.
Latest posts by Dean Popplewell (see all)
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