German Trade Surplus Narrows in June


German trade surplus narrowed to EUR 22.3 billion in June 2017 from EUR 24.5 billion in the same month a year earlier. Exports increased by 0.7 percent year-on-year to EUR 107.2 billion while imports rose by 3.6 percent to EUR 84.9 billion.

Exports rose 0.7 percent from the previous year to EUR 107.2 billion in June, as sales grew to the European Union (2.4 percent to EUR 63.9 billion), of which the Euro Area (2.7 percent to EUR 39.8 billion) and other European countries (1.8 percent to EUR 24.1 billion). In contrast, sales to countries outside the European Union declined by 1.7 percent to EUR 43.3 billion.

Imports increased 3.6 percent to EUR 84.9 billion, boosted by higher purchases from the European Union (1.7 percent to EUR 56.1 billion), mainly from European countries outside the Euro Area (5.5 percent to EUR 18.2 billion); while purchases from the Euro Area fell 0.1 percent to EUR 38.0 billion. In addition, imports from countries outside the European Union jumped 7.5 percent to EUR 28.8 billion.

Considering the first half of the year, the trade surplus narrowed to EUR 122.5 billion from EUR 129.3 billion in the same period of 2016.

On a seasonally adjusted basis, the trade surplus hit a ten-month high of EUR 21.2 billion from EUR 20.3 billion in May. Exports declined by 2.8 percent, the sharpest fall since August 2015, following five consecutive months of growth; and imports were down 4.5 percent, the biggest drop since January 2009.

Destatis l Rida Husna | rida@tradingeconomics.com
8/8/2017 9:46:45 AM