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Germany Trade Surplus Rises In August

Germany's foreign trade surplus increased in August, as exports grew faster than imports, data from Destatis showed Tuesday.

Exports climbed a calendar and seasonally adjusted 3.1 percent month-over-month in August, well above the 0.2 percent rise in July.

Imports rose at a slower pace of 1.2 percent after a 2.4 percent gain in the preceding month.

As a result, the trade surplus increased to EUR 21.6 billion in August from EUR 19.3 billion in the prior month. Economists had expected the surplus to rise to EUR 19.5 billion.

On a yearly basis, export growth eased to 7.2 percent from 8.0 percent. Similarly, imports grew 8.5 percent after expanding 9.6 percent.

The unadjusted trade surplus rose to EUR 20.0 billion from EUR 19.6 billion.

The current account of the balance of payments showed a surplus of EUR 17.8 billion in August versus EUR 16.9 billion in the corresponding month last year. The expected surplus was EUR 17.0 billion.

by RTT Staff Writer

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