Germany posted a trade surplus for June as exports grew faster than imports.
Germany’s trade surplus stood at 6.4 billion euros on a calendar and seasonally adjusted basis in June, after recording a surplus of 0.8 billion euros the previous month, according to Destatis data.
Economists expected a surplus of 0.4 billion euros for June.
Germany’s exports rose 4.5% month-on-month to 134.3 billion euros in June, while imports rose 0.2% to 127.9 billion euros.
Economists had expected a 1.3% increase in exports and 1.5% in imports.
Exports to EU countries rose 3.9% month-on-month and imports from these countries rose 0.3%.
Exports to non-EU countries rose 5.3% month-on-month and imports from these countries rose 0.1%.
Regarding trade with Russia, exports in June rose 14.5% month-on-month to 1.2 billion euros, but were down 40.3% year-on-year.
Source: Capital
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