As demand remained subdued despite the lifting of lockdown measures, the Federal Statistics Office said German exports rebounded less than expected in May.
After diving by 24 percent in April, seasonally adjusted exports surged by 9 percent on the month. However, the level remained almost 27 percent weaker than their pre-crisis level in February.
After a slump of 16.6 percent the previous month, imports rose by 3.5 percent with the trade surplus jumped to 7.6 billion euros. Exports expected by economists to rise by 13.8 percent and imports by 12 percent with the trade surplus expected to come in at 5.2 billion euros.
Exports to the US were down 36.5 percent year-on-year in May. Exports to China were 12.3 percent lower than in May last year.
