Germany: Merchandise exports drop in July
Merchandise exports dropped 2.1% in month on month in July, on the heels of June’s 4.2% jump. Meanwhile, merchandise imports fell 1.5% in monthly terms in July (June: +0.1% mom).
As a result, the merchandise trade balance deteriorated from the previous month, recording a EUR 5.4 billion surplus in July (June 2022: EUR 6.2 billion surplus; July 2021: EUR 17.5 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a EUR 95.0 billion surplus in July, compared to the EUR 107 billion surplus in June.