Germany Trade Balance July 2020


Germany: Merchandise exports growth eases in July

September 9, 2021

Merchandise exports increased 0.5% month-on-month in July on a calendar- and seasonally-adjusted basis, down from June’s 1.3% expansion. Goods imports, meanwhile, dropped 3.8% over the prior month in July, swinging from a 0.6% expansion recorded in the prior month. The calendar- and seasonally-adjusted trade surplus consequently widened to EUR 17.9 billion in July from EUR 13.5 billion in June.

On an annual basis, exports of goods jumped 12.4% in July after June’s 23.6% increase. The print partly benefited from a favorable base effect. Imports of goods, meanwhile, rose 16.6% in July, down from June’s 27.1% increase.


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Germany Trade Balance Chart

Germany Trade12m July 2021

Note: 12-month sum of trade balance in EUR billion and annual variation of the 12-month sum of exports and imports in %.
Source: Federal Statistics Office (Destatis).

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