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Financial News: Germany's Exports Growth Improves In June

Germany's Exports Growth Improves In June

08/07/2020 - 03:00:00 (RTTNews)

(RTTNews) - Germany's exports and imports grew at faster rates in June, data from Destatis showed Friday.

Exports advanced 14.9 percent on month, following May's 8.9 percent increase. Shipments were forecast to grow 13.3 percent in June.

At the same time, imports growth advanced to 7 percent from 3.6 percent in May. However, this was slower than economists' forecast of 10.9 percent rise.

The trade surplus rose to a seasonally adjusted EUR 14.5 billion from EUR 7.5 billion a month ago. The expected level was EUR 10.1 billion.

On a yearly basis, exports decreased 9.4 percent in June versus a 29.8 percent decline in May. Likewise, the fall in imports eased to 10 percent from 21.7 percent.

The current account surplus increased to EUR 22.4 billion from EUR 19.5 billion registered in the same period last year.

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