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BERLIN (AP) — Germany recorded its first monthly trade deficit in May since 1991 as a result of rising import prices, figures released on Monday show.
According to the Federal Bureau of Statistics, last month's exports reached 125.8 billion euros ($ 131.5 billion) and imports reached 126.7 billion euros.
Seasonally adjusted figures resulted in a foreign trade deficit of approximately € 1 billion. This has had a psychological impact on Europe's largest economy, which boasts a strong export industry.
Analysts attributed the increase in imports to inflation.
In Germany as well, exports to Russia in May recovered by almost 30% compared to the previous month, after a 60% decrease in April due to sanctions associated with the war in Ukraine. Exports to Russia last month were less than half that of May 2021.
