German exports up in May

BERLIN (AP) ? Germany's Federal Statistical Office says the country's exports rose in May despite difficulties in the 17-nation eurozone, but the trade balance narrowed as imports increased by an even greater amount.

Exports in May rose by a seasonally adjusted 3.9 percent while imports rose by 6.3 percent compared with the previous month, the office reported Monday.

In unadjusted terms exports were up 0.5 percent to ?92.5 billion ($114.5 billion) while imports were down 0.2 percent to ?77.2 billion compared to May 2011, for a trade surplus of ?15.3 billion in May 2012.

In adjusted terms the surplus was ?15 billion.

Exports decreased by 2.3 percent to eurozone areas but rose 0.2 percent elsewhere in the European Union over May 2011. The drop was offset by a 3.4 percent gain to non EU countries.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-07-09-Germany-Economy/id-471107d4df8c4529a8c945bc0790dbb3

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