German exports in May 2008 increased by 2.5% to 80.8 billion Euros worth of goods in comparison with May 2007, but over the same period imports increased even more significantly by 8.2% to 66.5 billion Euros. Thus, even in absolute figures imports increased more than exports.
After adjustments for calendar and season, exports in May 2008 decreased by 3.2% as compared to April 2008 while imports increased by 0.7% over this one-month period.
The foreign trade balance closed with a surplus of 14.4 billion Euros in May 2008. In May 2007 this balance was +17.5 billion Euros. After adjustments for calendar and season the foreign trade balance closed with a surplus of 14.6 billion Euros.
The balance of services closed with a deficit of -1.9 billion Euros, the balance of earned and unearned income with -3.4 billion Euros, the balance of permanent transfers with -0.3 billion Euros and the balance of supplements to foreign trade amounted to -1.2 billion Euros so that, according to provisional calculations by the German Bundesbank, the balance of current accounts closed with a surplus of 7.5 billion Euros in May 2008. In May 2007 the surplus of the German balance of current accounts was 10.3 billion Euros.
The above figures are for the time being still provisional and are provided by the Federal Statistical Office.