(MENAFN) As outbound shipments dropped for the 2nd successive month and imports advanced due to strong local demand, German trade surplus contracted throughout January.
Shipments from EU's largest economy in the cited month were 0.5 percent less than in Dec last year when exports dipped by 0.7 percent, while imports grew by 1.2 percent month on month.
In accordance, German exports plummeted by 1.4 percent from January 2015 y-o-y, mainly on the back of a 5.0-percent deterioration in sales to countries outside the European Union.
On the positive side, the German labor market stayed steady, household income improved, energy became cheaper, and interest rates declined, encouraging Germans to open their wallets.
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