Germany's trade surplus increased in June

According to the report from the Federal Statistical Office (Destatis), in June 2021, German exports were up by 1.3% and imports by 0.6% on a calendar and seasonally adjusted basis compared with May 2021. Destatis also reports that, after calendar and seasonal adjustment, exports were 1.1% and imports even 10.0% higher than in February 2020, the month before restrictions were imposed due to the coronavirus pandemic in Germany.

Germany exported goods to the value of 118.7 billion euros and imported goods to the value of 102.4 billion euros in June 2021. Compared with June 2020, exports increased by 23.6% and imports by 27.0% in June 2021.

The foreign trade balance showed a surplus of 16.3 billion euros in June 2021. In June 2020, the surplus amounted to 15.4 billion euros. The calendar and seasonally adjusted surplus of June 2021 was 13.6 billion euros.

The current account of the balance of payments showed a surplus of 22.5 billion euros in June 2021, which takes into account the balances of trade in goods (+16.2 billion euros), services (+0.5 billion euros), primary income (+8.6 billion euros) and secondary income (-2.9 billion euros). In June 2020, the current account showed a surplus of 20.3 billion euros.