German Trade Surplus Narrows in June
The German trade surplus narrowed to EUR 16.8 billion in June 2019 from EUR 22.0 billion in the same month a year earlier.
8/9/2019 2:57:21 PM
Exports plunged 8 percent year-on-year to EUR 106.1 billion in June. Sales to the EU dropped 6.2 percent to EUR 63.5 billion, of which Euro area (-5.6 percent to EUR 40.6 billion) and non-Euro area countries (-7.2 percent to EUR 23 billion). In addition, exports to countries outside the EU slumped 10.7 percent to EUR 42.6 billion.
Imports dropped at a slower 4.4 percent to EUR 89.3 billion. Purchases from the EU decreased 1.1 percent to EUR 53.3 billion, of which Euro area (-0.3 percent to EUR 35 billion) and non-Euro area countries (-2.7 percent to EUR 18.3 billion). Also, arrivals from countries outside the EU fell 8.9 percent to EUR 36 billion.
Considering the first half of the year, the trade surplus decreased to EUR 109.9 billion from EUR 122.4 billion in the corresponding period of 2018.
On a seasonally adjusted basis, the trade surplus narrowed to EUR 18.1 billion in June from EUR 18.7 billion in June, missing market consensus of EUR 18.6 billion. Exports fell 0.1 percent, matching expectations, while imports rose 0.5 percent, beating consensus of a 0.3 percent gain.