German Exports Rise Slightly In July

German exports recovered in July but the pace of growth was weaker than forecast, data from Destatis showed Friday.

Exports grew 0.2 percent month-on-month in July, reversing a 2.7 percent fall in June. Shipments were forecast to climb 1.3 percent.

At the same time, imports advanced 2.2 percent, in contrast to a 4.4 percent decline in June. Nonetheless, the rate was slower than the expected 2.8 percent.

As a result, the trade surplus decreased to around adjusted EUR 19.6 billion from EUR 21.2 billion a month ago.

Year-on-year, exports growth accelerated sharply to 8 percent from 0.8 percent in June. Likewise, imports increased 9.4 percent after rising 3.7 percent in June.

On an unadjusted basis, the trade surplus dropped to EUR 19.5 billion in July from EUR 22.3 billion in the previous month.

The current account surplus fell to EUR 19.4 billion from EUR 25 billion in June. In the same period of previous year, the surplus totaled EUR 18.3 billion.
Source: RTT News

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