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.