Sunday, 7 Aug 2022

German exports jump despite supply bottlenecks in industry

FILE PHOTO: Container ships are loaded at a container terminal in the harbor amid the outbreak of coronavirus disease (COVID-19) in Hamburg, Germany, March 29, 2021. REUTERS/Fabian Bimmer/File Photo

BERLIN (Reuters) – German exports rose more than expected in June despite persisting supply bottlenecks in manufacturing, data showed on Monday, suggesting a solid recovery in Europe’s biggest economy.

Seasonally adjusted exports increased by 1.3% on the month after a slightly revised rise of 0.4% in May, the Federal Statistics Office said.

Imports edged up 0.6 % after a jump of 3.4% in the prior month. The trade surplus widened to 13.6 billion euros from a revised 12.8 billion euros in May.

A Reuters poll had pointed to a 0.4% increase in exports and a 0.5% rise in imports, with a trade balance of 13.4 billion euros.

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