German exports up in May

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BERLIN (AP) — Germany's Federal Statistical Office says the country's exports rose in May despite difficulties in the 17-nation eurozone, but the trade balance narrowed as imports increased by an even greater amount.

Exports in May rose by a seasonally adjusted 3.9 percent while imports rose by 6.3 percent compared with the previous month, the office reported Monday.

In unadjusted terms exports were up 0.5 percent to €92.5 billion ($114.5 billion) while imports were down 0.2 percent to €77.2 billion compared to May 2011, for a trade surplus of €15.3 billion in May 2012.

In adjusted terms the surplus was €15 billion.

Exports decreased by 2.3 percent to eurozone areas but rose 0.2 percent elsewhere in the European Union over May 2011. The drop was offset by a 3.4 percent gain to non EU countries.

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