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- Germany's trade surplus rose sharply in July
Germany's trade surplus rose sharply in July
According to the provisional data from Federal Statistical Office (Destatis), Germany exported goods to the value of 115.2 billion euros and imported goods to the value of 93.7 billion euros in July 2019. Destatis also reports that German exports increased by 3.8% and imports decreased by 0.9% in July 2019 year on year. After calendar and seasonal adjustment, exports were up 0.7% and imports down 1.5% compared with June 2019.
The foreign trade balance showed a surplus of 21.4 billion euros in July 2019. In July 2018, the surplus amounted to 16.4 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 20.2 billion euros in July 2019.
In July 2019, Germany exported goods to the value of 64.2 billion euros to the Member States of the European Union (EU), while it imported goods to the value of 52.8 billion euros from those countries. Compared with July 2018, exports to the EU countries decreased by 0.5%, and imports from those countries by 1.6%. Goods to the value of 41.3 billion euros (-0.2%) were exported to the Euro area countries in July 2019, while the value of the goods imported from those countries was 34.9 billion euros (-3.4%). In July 2019, goods to the value of 22.9 billion euros (-1.1%) were exported to EU countries not belonging to the Euro area, while the value of the goods imported from those countries was 18.0 billion euros (+2.0%).
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