Germany: Merchandise exports growth accelerates in June
Merchandise exports expanded 1.3% month-on-month on a calendar- and seasonally-adjusted basis in June, up from May’s 0.4% increase. Goods imports, meanwhile, grew 0.6% over the prior month in June, down from May’s 3.4% expansion. Nonetheless, the calendar- and seasonally-adjusted trade surplus widened to EUR 13.6 billion in June from EUR 12.8 billion in May.
On an annual basis, exports of goods jumped 23.6% in June, after skyrocketing 36.4% in May. While the print continued to benefit from a favorable base effect, the reading also reflected healthier external demand dynamics amid the reopening of trading partners’ economies. Imports of goods, meanwhile, rose 27.0% year-on-year in June, down from May’s 32.5% increase.