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Financial News: Germany's Exports Rise; Imports Fall

Germany's Exports Rise; Imports Fall

09/09/2019 - 02:16:00 (RTTNews)

(RTTNews) - Germany's exports increased in July, while imports decreased from the previous month, data from Destatis showed Monday.

Exports advanced 0.7 percent month-on-month in July, reversing a 0.1 percent fall in June. Meanwhile, imports dropped 1.5 percent after rising 0.7 percent a month ago.

Exports were forecast to fall 0.5 percent on month and imports to drop 0.3 percent.

Consequently, the trade surplus increased to a seasonally adjusted EUR 20.2 billion from EUR 18 billion in June.

On a yearly basis, exports grew 3.8 percent, in contrast to an 8 percent increase in June. At the same time, imports fell at a slower pace of 0.9 percent following a 4.2 percent drop.

Data showed that the current account surplus totaled EUR 22.1 billion versus EUR 13.9 billion in the same period last year.

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