German exports slump in March

German exports slump in March

German exports slump in March

German exports fell sharply in March compared to a month ago, a sign of fragility in Europe’s biggest economy, which recently reported stagnating growth for the first quarter.    

Germany exported 129 billion euros’ worth of goods in March, down 5.2 percent from February, data published by federal statistics agency Destatis showed.     

The drop came after two straight months of growth.     

Imports fell as well during March, by 6.4 percent to 113 billion euros, leading to a trade surplus of 16.7 billion euros for the month.    

Demand for German goods was down across the board, with exports to EU states slumping 6.2 percent.    

Particularly concerning was a 10.9 percent drop in exports to the United States, a key market for Europe.    

Overall, countries outside the EU imported 4.0 percent less from Germany.    

On April 28, Germany posted official data showing flat growth in the first quarter, despite expectations for a slight rebound.    

Analysts have warned that a slowdown in the United States could hurt Europe’s biggest economy.