German exports slump due to Ukraine

Berlin - German exports fell sharply in March, bogged down by slowing global trade and the economic fallout from the Ukraine crisis, data released Friday showed.

Monthly exports from Europe's biggest economy slumped by a surprise 1.8% in March after falling by a hefty 1.3% in February as growth in China faltered and the crisis in Ukraine deepened.

Analysts had expected a 1.3% gain in the month-on-month exports.

Imports also fell unexpectedly, dropping by 0.9% and reversing a 0.4% increase in February.

Analysts had expected signs of a pickup in domestic demand to drive a 0.6% rise in imports. The fall in both exports and imports resulted in the seasonally adjusted trade balance narrowing to €14.9bn from €15.8bn in February.