FX.co ★ German Exports Fall Unexpectedly In May

Germany's export fall unexpectedly in May, while imports increased after falling for two straight months, data from Destatis showed on Tuesday.

Exports decreased 0.1 percent on month in May, reversing a 1.0 percent gain in April. Shipments were forecast to grow 0.3 percent.

At the same time, imports rebounded 1.7 percent after a 0.1 percent drop. However, this was weaker than economists' forecast of 3.1 percent.

As a result, the trade surplus unexpectedly declined to EUR 14.4 billion from EUR 16.5 billion in April. The surplus was seen at EUR 17.5 billion.

On a yearly basis, the decline in exports deepened to 4.0 percent from 1.7 percent. Imports posted an annual fall of 10.6 percent following April's 11.2 percent decline.