German exports surprisingly fell by 6.3 per cent in January while Germany’s biggest rival in world trade, China, enjoyed a 45.7 per cent surge in February. It’s worrying news for Germany which is relying on its export strength to drive its recovery. Analysts expect exports to grow this year, aided by a weak euro.
German exports unexpectedly fell by 6.3 per cent in January from the previous month, according to data released on Wednesday that run counter to economists’ forecasts of an export-led recovery.
By contrast, Chinese exports jumped 45.7 per cent in February, the biggest increase in three years. China replaced Germany as the world’s biggest exporter in 2009. Germany had proudly held the unofficial title of “export world champion” since 2003.