German trade balance surplus higher than expected in August

Germany exported goods to the value of 103.1 billion euros and imported goods to the value of 83.0 billion euros in August 2017. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 7.2% and imports by 8.5% in August 2017 year on year. Compared with July 2017, exports increased by 3.1% and imports by 1.2% in calendar and seasonally adjusted terms.

The foreign trade balance showed a surplus of 20.0 billion euros in August 2017. In August 2016, the surplus amounted to 19.6 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 21.6 billion euros in August 2017.

According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of 17.8 billion euros in August 2017, which takes into account the balances of trade in goods including supplementary trade items (+21.8 billion euros), services (-4.9 billion euros), primary income (+4.4 billion euros) and secondary income (-3.5 billion euros). In August 2016, the German current account showed a surplus of 16.9 billion euros.