Germany’s trade surplus narrowed from €17.7 billion to € 13 billion in August, way below the economists’ forecast of €15.8 billion.
Source: Federal Statistical office.
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Exports were down 1.2% on the month, while imports expanded by 3.5% in the month, causing the smaller trade surplus recorded in August.
The foreign trade balance signaled a surplus of €10.7 billion in August, lower compared to August 2020’s figure of €11.9 billion.
Germany’s current account balance of payments reported a surplus of €11.8 billion in August this year, accounting for a positive balance of trade in goods and primary income.
German exports to EU member states rose 157%, while imports from the EU member states increased by 11.2%.
Germany’s exports of goods to states outside of the EU rose by 13.1%, while imports expanded by 25.9%.
The exports of the biggest economy in Europe to the UK dropped by 15.1%, with imports from the UK declining 7.9%. Exports to China rose by 4.4%.