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German Trade Jumps in Feb; Ukraine War to be Felt in Mar

BERLIN, April 4 (Reuters) - German exports and imports jumped more than expected in February, the Federal Statistics Office said on Monday, with the effects of the war in Ukraine yet to be reflected in foreign trade figures.

Seasonally adjusted exports rose 6.4% on the month, compared with a rise of 1.5% predicted by economists.

Imports increased 4.5% on the month, compared with an average forecast for a 1.4% increase.

However, trade with Russia, which was restricted in late February, went against the trend, with exports falling 6.3% and imports falling 7.3% from the previous month.

It won't be until March that "foreign trade figures will show in detail in how far the sanctions, further measures to restrict exports and unsanctioned behaviour of market participants will further impact German trade" with Russia, said the office.

Experts expect strong slumps: "The negative foreign trade data with the Russian Federation in February is probably still relatively good compared with what will be published in the coming months," said VP Bank's chief economist, Thomas Gitzel.

"The Russia trade will literally collapse," he added.

The overall trade surplus increased to 11.5 billion euros ($12.70 billion) from a downwardly revised 8.8 billion euros the previous month.

($1 = 0.9078 euros)

Reporting by Miranda Murray and Rene Wagner; Editing by Maria Sheahan and Bradley Perrett

Source: Reuters

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