German trade surplus shrinks in May as exports drop

Germany’s trade surplus shrank in May as exports declined unexpectedly, the Federal Statistical Office revealed on Friday.

The seasonally-adjusted trade surplus narrowed to €22.2bn in May from €24.1bn in April, according to Destatis, slightly below forecasts of €23bn.

Exports fell 1.8% in May, missing estimates for a 0.4% and following a 0.1% increase in April.

Imports increased 0.1% in May, compared to expectations for a 0.7% gain and the previous month's 0.3% drop.