Germany Posts Surge in August Trade Surplus
(MENAFN) Germany’s foreign trade surplus jumped sharply in August, reaching €19.9 billion ($17.2 billion), up from €16.3 billion in July, according to official figures published Thursday by Destatis. The result beat analyst forecasts by a significant margin, with markets expecting a surplus of just €15.1 billion.
Despite the stronger trade balance, export and import data signaled underlying weaknesses. Compared to August 2024, exports from Europe’s largest economy slipped 0.7% to €129.7 billion, while imports rose 3.5% to €112.5 billion.
Month-over-month, the decline was more modest: exports dropped 0.5%, and imports fell 1.3%.
Trade with fellow European Union nations remained robust. German exports to EU partners totaled €72.5 billion, while imports from those countries stood at €58.8 billion.
Exports to non-EU countries reached €57.1 billion, and imports from outside the bloc were slightly lower at €53.7 billion.
The United States remained Germany’s top export destination in August, though volumes continued to fall. Exports to the U.S. declined 2.5% from July to €10.9 billion, the fifth consecutive monthly drop. It marked the lowest level since November 2021, when exports to the U.S. were €10.3 billion. On a year-over-year basis, exports to the U.S. plunged 20.1%.
In contrast, exports to China provided a rare bright spot, rising 5.4% from the previous month to €6.8 billion. However, shipments to the UK slumped 6.5%, totaling €6.5 billion in August.
Germany’s import flow was led by China, despite a 4.5% monthly decline to €13.5 billion. Imports from the U.S. rose 3.4% to €8 billion.
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