Germany: Merchandise exports contract in August
Merchandise exports contracted 1.1% month on month in seasonally adjusted terms in August, following July’s 1.9% decrease. Meanwhile, merchandise imports were broadly stable, falling just 0.2% month on month in seasonally adjusted terms in August (July: -1.3% mom s.a.).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 14.4 billion surplus in August (July 2023: USD 18.1 billion surplus; August 2022: USD 0.4 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 5.3 billion surplus in August, compared to the USD 7.6 billion surplus in July.