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- Germany's trade surplus rose in July
Germany's trade surplus rose in July
According to the report from Federal Statistical Office (Destatis), Germany exported goods to the value of 102.3 billion euros and imported goods to the value of 83.1 billion euros in July 2020. Destatis also reports that exports declined by 11.0% and imports by 11.3% in July 2020 year on year.
Compared with June 2020, exports were up 4.7% and imports 1.1% after calendar and seasonal adjustment. Compared with February 2020, the month before restrictions were imposed due to the corona pandemic, exports decreased by a calendar and seasonally adjusted 12.1%, and imports by 11.5%.
The foreign trade balance showed a surplus of 19.2 billion euros in July 2020. In July 2019, the surplus amounted to 21.3 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 18.0 billion euros in July 2020.
The German current account of the balance of payments showed a surplus of 20.0 billion euros in July 2020, which takes into account the balances of trade in goods (+18.8 billion euros), services (-2.4 billion euros), primary income (+7.1 billion euros) and secondary income (-3.6 billion euros). In July 2019, the German current account showed a surplus of 19.4 billion euros.
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