German Exports Beat Expectations with an Expansion of 4% in Feb

German exports expanded 4% in February, higher than the market had expected and the biggest increase in 10 months, due to strong demand from the U.S. and China, according to the data released by the federal statistics office.

Exports rose 4.0% in February, beating forecasts for an increase by 1.6% from Reuters poll. On a monthly basis, exports rose 2.5%.

Outbound freight for the European largest economy made a significant recovery this year, compared to a contract of 6.1% MoM last December.

On a monthly basis, shipment to European Union countries is seen growing by 2.0%, while exports to the U.S.jumped 9.4% and 10.2% for shipment to China.

Meanwhile, imports rose by 4.6% when compared to January and also beat expectations for a 1.0% increase.

Additionally, the foreign trade balance showed a surplus of 16.0 billion euros in February.