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Germany Exports Fall Unexpectedly In August

Germany exports declined unexpectedly in August, data from Destatis revealed on Friday.

Exports decreased 1.2 percent month-on-month in August, in contrast to the 0.6 percent rise in July. Economists had forecast a monthly growth of 0.5 percent.

At the same time, imports rebounded 3.5 percent, following a 3.6 percent fall in the previous month.

As a result, the trade surplus declined to a seasonally adjusted EUR 13.0 billion from EUR 17.7 billion a month ago.

Year-on-year, exports growth accelerated to 14.4 percent from 12.5 percent in July. Likewise, growth in imports advanced to 18.1 percent from 16.9 percent.

On an unadjusted basis, the trade surplus fell to EUR 10.7 billion from EUR 11.9 billion a year ago.

The current account surplus totaled EUR 11.8 billion versus EUR 16.7 billion in the same period last year.

The material has been provided by InstaForex Company – www.instaforex.com