Germany’s trade balance improved to €17.7 billion in February, from €16.2 billion in January and mostly in line with expectations of a €17.8 billion surplus.

• Exports increased 1.8% MoM and 0.1% YoY to €131.6 billion, end imports increased at a lower rate of 0.7% MoM but up 4.6% YoY to €113.8 billion.
• Exports to EU countries increased 0.5% MoM while EU imports were up 2.3% MoM.
• Exports to non-EU countries jumped 3.5% MoM while non-EU imports fell -1.0% MoM.
• There was strong evidence of US importers front-running tariffs. German exports to the US jumped 8.5% MoM while imports from the US were down -3.9% MoM.