Germany’s exports increased in July, while imports decreased from the previous month, data from Destatis showed Monday.
Exports advanced 0.7 percent month-on-month in July, reversing a 0.1 percent fall in June. Meanwhile, imports dropped 1.5 percent after rising 0.7 percent a month ago.
Exports were forecast to fall 0.5 percent on month and imports to drop 0.3 percent.
Consequently, the trade surplus increased to a seasonally adjusted EUR 20.2 billion from EUR 18 billion in June.
On a yearly basis, exports grew 3.8 percent, in contrast to an 8 percent increase in June. At the same time, imports fell at a slower pace of 0.9 percent following a 4.2 percent drop.
Data showed that the current account surplus totaled EUR 22.1 billion versus EUR 13.9 billion in the same period last year.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
