BERLIN (Reuters) – Exports from Germany fell for the second month in a row in September while imports nearly stagnated, the statistics agency said on Tuesday, in yet another sign that problems in supply chains are complicating the economic recovery.
Seasonally-adjusted exports fell 0.7% in the month to €112.3 billion, against economists’ expectations of stability.
Imports advanced 0.1% to 99.2 billion euros, below the expected rise of 0.6%.
Compared to February 2020, the pre-pandemic period, exports dropped 0.3% while imports rose 7.8%, according to seasonally adjusted data.
“Supply bottlenecks are weighing on production, which in turn is holding back exports,” said Bankhaus economist Lampe Alexander Krueger, adding that this trend is likely to continue throughout the rest of the year.
The trade surplus stood at 13.2 billion euros in September, much lower than during the period before the pandemic, when it often exceeded 20 billion euros a month.
(Reporting by Michael Nienaber)
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