According to data from the Federal Statistical Office today, Germany's exports edged down in May, down 0.5% month-on-month, while imports beat expectations, rising 2.7%.
A Reuters poll forecast exports rose 0.9% month-on-month.
The unexpected drop in overall exports was due to weak demand from EU countries, which fell by 2.8% compared to April 2022.
VP Bank chief economist Thomas Gitzel said the drop in exports should not be overemphasized.
"But the number of negative stories is increasing, which is why it's disconcerting to look at the numbers with dispassion," he added.
Germany exported the most goods to the United States in May, up 5.7 percent from the previous month to 13.4 billion euros, the statistics office said.
German exports to Russia rose 29.4 percent in May from the previous month to 1 billion euros, the office said, after plunging 60 percent in March amid tough Western sanctions over Moscow's invasion of Ukraine.
The office reported a seasonally adjusted trade deficit of 1 billion euros in May, compared with forecasts of 2.7 billion euros.
