Germany's statistical office said calendar and seasonally adjusted exports fell 0.8 per cent in July from June, to 138.2 billion euros. Imports dropped 5.7 per cent to 116.9 billion euros, leaving a trade surplus of 21.3 billion euros. Shipments to the United States rose 19.1 per cent to 14.4 billion euros. Exports to the European Union fell 1.6 per cent and exports to China fell 9.5 per cent. Reuters said economists had expected a 0.1 per cent rise.
German exports fell 0.8 per cent in July from June, in calendar and seasonally adjusted terms. The statistical office released the figures on Tuesday. Economists polled by Reuters had expected a 0.1 per cent increase. Imports dropped 5.7 per cent on the month. Exports to the United States had fallen 14.2 per cent in June.[1], [2]
Exports to the United States rose 19.1 per cent on the month to 14.4 billion euros. Against July last year, shipments to the United States were 28.3 per cent higher. Trade within the European Union moved the other way: exports to the bloc fell 1.6 per cent on the month to 78.0 billion euros and imports from it fell 6.1 per cent to 59.6 billion euros. Exports to China fell 9.5 per cent to 5.6 billion euros, while imports from China fell 7.5 per cent to 15.2 billion euros.[1]
Exports totalled 138.2 billion euros and imports 116.9 billion euros, leaving a trade surplus of 21.3 billion euros, up from 15.4 billion euros in June. Compared with July last year, exports were 6.1 per cent higher and imports 3.0 per cent higher.[1], [2]
