German exports resumed their slide in April and imports fell even more sharply, tempering hopes that Europe's largest economy will soon recover from its deepest recession since World War Two.
Data from the Federal Statistics Office showed the trade surplus edged up slightly to €9 billion in April on a seasonally adjusted basis.
But after rising in March for the first time in six months, exports fell sharply, dipping 4.8 per cent month-on-month to €63 billion.
Imports tumbled at an even faster pace, declining 5.8 per cent to €53.9 billion, their weakest performance since November 2008.
The figures suggest Germany, the world's biggest exporter of goods since 2003, will recover only slowly from a deep downturn which saw gross domestic product plunge by a record 3.8 per cent in the first quarter of this year.
"This is a severe blow," said Andreas Scheuerle at Dekabank.
The euro fell about a third of a cent against the dollar after the data was released, before recovering to above $1.39.
Economists surveyed by Reuters had forecast the trade surplus would rise to €9.4 billion, with imports up 0.2 per cent month-on-month and exports down 0.1 per cent.
On an unadjusted basis exports slid by 28.7 per cent in April to €63.8 billion, the worst drop-off since World War Two, while imports slumped by 22.9 per cent to €54.4 billion.
Germany is highly dependent on trade and as a result has been hit harder by the global downturn than many other leading economies.
The drop-off in foreign demand has hit German carmakers like Porsche and Opel especially hard, forcing them to seek help from the government. BMW saw its US sales slump 24.9 per cent in May while those of Volkswagen dipped 9.1 per cent.
Reuters