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- German trade surplus widens in June
German trade surplus widens in June
The Federal Statistical Office (Destatis) reported Tuesday that Germany's trade surplus expanded to EUR22.3 bln in June from an unrevised EUR22 bln in May, but was lower than a surplus of EUR24.5 billion recorded in the same month a year earlier.
According to the report, German exports increased by 0.7 percent y-o-y and imports grew by 3.6 percent y-o-y in June.
On a seasonally adjusted basis, the trade surplus rose to EUR 21.2 billion in June from EUR20.3 billion in May. Exports increased 2.8 percent m-o-m, while imports were down by 4.5 percent m-o-m.
The current account of the balance of payments posted a surplus of EUR23.6 billion in June compared to EUR24 billion in the corresponding period of 2016.
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