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German businesses grow exports for 11th month running

·1 min read

BERLIN, May 7 (Reuters) - German companies defied the coronavirus crisis to grow their exports for the eleventh month in a row, data from the Statistics Office showed on Friday, with export growth coming in at 1.2%, twice the rate economists had forecast.

But imports also surged, with Germany importing 6.5% more by value in March than in the previous month, well ahead of a forecast of 0.7%, pushing the trade balance to its lowest level since last April.

The export surge lowered the trade balance to 14.3 billion euros ($17.24 billion), its lowest level since last April. ($1 = 0.8295 euros) (Reporting by Thomas Escritt and Rene Wagner; Editing by Maria Sheahan)