BERLIN (Reuters) -German exports rose by more than expected in January, increasing 2.1% on the month to bounce back from the prior month’s slump thanks to strong demand from the United States and the United Kingdom, data showed on Friday.
Exports to the U.S. were up 3.1% on month and exports to the U.K. increased 7.8% in January compared to December, the data showed.
A Reuters poll had predicted a month-on-month rise in overall exports of 1.5%.
Imports fell by 3.4% compared with December, the federal statistics office reported, versus analysts expectations for a 2.0% rise.
The foreign trade balance showed a surplus of 16.7 billion euros ($17.73 billion) in January, up from 10.0 billion euros in December, both in calendar and seasonal adjusted terms.
Supply chain problems, the energy crisis and geopolitical risks are expected to take their toll on exporting companies this year. The German Chamber of Commerce and Industry DIHK forecasts real export growth of 2.5% in 2023, one point below the average growth during the previous decade.
The statistics office publishes more detailed economic data on its website.
($1 = 0.9418 euros)
(Reporting by Paul Carrel and Maria Martinez, Editing by Rachel More)
