2017.08.0802:43:00UTC+00German Trade Surplus Increases In June

Germany's trade surplus increased in June as the decline in imports was larger than the fall in exports, Destatis reported Tuesday.

Exports declined 2.8 percent in June from May, when they climbed 1.5 percent. Likewise, imports slid 4.5 percent, in contrast to May's 1.3 percent increase.

Exports and imports were expected to gain 0.2 percent each in June.

As a result, the trade surplus increased to a seasonally adjusted EUR 21.2 billion from EUR 20.3 billion in May.

On a yearly basis, exports growth eased sharply to 0.7 percent from 14.1 percent. Similarly, imports grew only 3.6 percent after expanding 16.3 percent.

The current account of the balance of payments showed a surplus of EUR 23.6 billion versus EUR 24 billion in the same period of previous year.