Germany’s export dropped -29.7% yoy to EUR 80.3B in May. Imports dropped -21.7% yoy to EUR 73.2B. Trade surplus widened to EUR 7.1B (or EUR 7.6B calendar and seasonally adjusted). Current account of the balance of payments showed a surplus of EUR 6.5B.
Exports to EU countries dropped -29.0% yoy while imports dropped -25.2% yoy. Exports to non-EU countries dropped -30.5% yoy while imports dropped -17.5% yoy.
