Smaller surplus in balance of current accounts in February

According to the German Bundesbank there was a surplus of 8.4 billion Euros in the German balance of current accounts in February 2007. This is 2.8 billion Euros less than in January this year. The reasons for this are a smaller active balance in the balance of trade and higher negative balances in other parts of macroeconomic accounting.

According to preliminary calculations by the Federal Statistical Office the active balance in foreign trade fell by 2.0 billion Euros to 14.2 billion Euros in February 2007. Allowing for saisonal and other influences it decreased by 2 billion Euros to 13.75 billion Euros. The nominal value of exports increased by 2%, but at the same time imports increased by 5.5% in nominal terms.

Currency reserves of the Bundesbank slightly fell by 0.6 billion Euros in February this year. GERMAN