German trade surplus narrows as imports outpace exports
German exports rose strongly in January but were slightly outpaced by an increase in imports in Europe's largest economy.
The Federal Statistical Office reported Friday that exports were up 2.7 percent in January over December, while imports increased 3 percent, according to figures adjusted for seasonal and calendar variations.
January exports totaled 103.8 billion euros ($109.6 billion), while imports came in at 85.3 billion euros for a trade surplus of 18.5 billion euros.
Year-on-year, German exports to European Union countries were up 8 percent and to countries outside the bloc up 17.7 percent.
New White House trade adviser Peter Navarro said earlier this week reducing the U.S. deficit with Germany was "one of the most difficult" trade issues.
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