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German exports unexpectedly drop

Date: Wednesday 10 Mar 2010

German exports unexpectedly drop

German exports unexpectedly fell in January following four months of gains, official figures showed on Wednesday.

Exports dropped 6.3% to €67.9bn in January compared with December 2009, while imports rose by 6% to €59.2bn, according to the Federal Statistical Office.

On an annual basis, exports increased by 0.2% and imports dropped by 1.4%.

Germany's seasonally adjusted foreign trade balance recorded a surplus of €8.7bn, down from €16.6bn in December and much less than forecasts of €16bn.

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