Latest data released by Destatis - 9 April 2021

  • Prior €14.3 billion; revised to €13.8 billion

  • Exports +0.9% vs +1.0% m/m expected
  • Prior +1.4%; revised to +1.5%
  • Imports +3.6% vs +2.1% m/m expected
  • Prior -4.7%; revised to -4.0%

The non-seasonally adjusted trade surplus widens in February as both exports and imports grew on the month. Basing off the seasonally adjusted readings, the jump in imports outpaces that of exports but at least both are seen improving.

There is still some ways to go in catching up to pre-virus levels but baby steps.