German export grew less than expected in May

German exports rose by nearly 10 percent in May compared to the previous month. As a result, exports of Europe’s largest economy recovered after they had collapsed in March and April as a result of the corona crisis.

The eastern neighbors performed 9 percent more in May. That is less than economists expected. They generally assumed a recovery of 14 percent. Imports also rose by a plus of 3.5 percent less than expected.

In April, German exports fell by 24 percent. In March, there was already an export decline of almost 12 percent. According to the statistics bureau, this was the largest monthly decline in exports since the start of the measurements in 1990. Due to the crisis and the measures to combat the virus outbreak, many German companies were closed while German export markets elsewhere in Europe were also closed.