German Trade Surplus Unexpectedly Rises In July

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The German trade surplus increased to EUR 13.9 billion in July from a revised surplus of EUR 12.1 billion in June, according to provisional data of the Federal Statistical Office released on Tuesday. The expected trade surplus for July was EUR 11.3 billion. A year ago, the trade balance recorded a surplus of EUR 14 billion.

Exports rose by a calendar and seasonally adjusted 2.3% month-on-month in July, slower than the 6.1% increase in June. At the same time, imports remained flat compared to a 5.9% rise in June. Year-on-year, exports and imports slipped 18.7% and 22.3%, respectively.

Meanwhile, the current account surplus totaled EUR 11 billion compared to June's revised EUR 13.5 billion. The surplus stood above the expected surplus of EUR 10 billion.

The German trade surplus increased to EUR 13.9 billion in July from a revised surplus of EUR 12.1 billion in June, according to provisional data of the Federal Statistical Office released on Tuesday. (Market News Provided by RTTNews)