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European Economic News

German Exports Recover In August

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Germany's overall exports recovered in August from July, while the growth in imports increased marginally, data from the Federal Statistical Office showed Tuesday.

Exports advanced 1 percent month-on-month, offsetting July's 0.8 percent fall. Meanwhile, imports rose 0.4 percent, slightly faster than the 0.3 percent increase seen in July.

Despite an increase in exports, the foreign trade surplus declined to EUR 13.1 billion in August from EUR 16.2 billion in July. On a seasonally and calendar adjusted basis, the surplus totaled EUR 15.6 billion.

Likewise, the current account surplus decreased to EUR 9.4 billion from EUR 14.2 billion in July.

On a yearly basis, exports decreased 5.4 percent and imports dropped 2.2 percent in August.

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