Germany Has First Monthly Trade Deficit Since 1991 On Exports

(Bloomberg) -- Germany reported its first monthly trade deficit in three decades after exports unexpectedly fell in May.

The shortfall of 1 billion euros ($1 billion) was the first since 1991. Cross-border sales declined 0.5%, compared with an economist forecast of an increase of 0.7%. At the same time imports rose 2.7%, much more than anticipated. 

Russia’s invasion of Ukraine and China’s Covid-related lockdowns are wreaking havoc with international supply chains, with substantial fallout for Germany’s export-oriented economy. 

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