German exports fell sharply in March, bogged down by slowing global trade and the economic fallout from the Ukraine crisis, data released Friday showed.
Monthly exports from Europe's biggest economy slumped by a surprise 1.8 per cent in March after falling by a hefty 1.3 percent in February as growth in China faltered and the crisis in Ukraine deepened. Analysts had expected a 1.3-percent gain in the month-on-month exports.
Imports also fell unexpectedly, dropping by 0.9 percent and reversing a 0.4-percent increase in February. Analysts had expected signs of a pickup in domestic demand to drive a 0.6 percent rise in imports.
The fall in both exports and imports resulted in the seasonally adjusted trade balance narrowing to 14.9 billion euros (20.9 billion dollars) from 15.8 billion euros in February, dpa reported.