German exports fell in the month of July on a seasonally adjusted basis. Exports dipped by 1.5% and imports by 2.2% on June 2010. Exports increased by 18.7% and imports by 24.9% on July 2009.

On Tuesday, it was reported that German factory orders fell in July as demand in the Eurozone softened, indicating as expected that the pace of growth in the second half of 2010 will moderate. Orders, adjusted for seasonal variations and inflation, dipped 2.2% from June, when they jumped a revised 3.6%, the Economy Ministry in Berlin said. That’s the biggest decline since February 2009. From a year earlier, orders were up 18% when working day adjusted.

Today the German federal statistics office, Destatis, reported that Germany exported commodities to the value of €83.0bn and imported commodities to the value of €69.5bn in July 2010 and German exports increased by 18.7% and imports by 24.9% in July 2010 on July 2009. The foreign trade balance showed a surplus of €13.5bn in July 2010. In July 2009, the surplus amounted to €14.3bn.

Seasonally adjusted, the foreign trade balance recorded a surplus of €12.7bn in July 2010.

According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of €9.0bn in July 2010, which included the balance of services (– € 3.1bn), factor income net (+ € 3.4bn), current transfers (– € 3.6bn), and supplementary trade items (– € 1.3bn). In July 2009, the German current account showed a surplus of €10.6bn.

In July 2010, Germany dispatched commodities to the value of €48.6bn to the member states of the European Union (EU), while it received commodities to the value of €44.0bn from those countries. Compared with July 2009, dispatches to the EU countries increased by 14.6% and arrivals from those countries by 21.8%. Goods to the value of €33.1bn (+15.1%) were dispatched to the Eurozone countries in July 2010, while the value of the commodities received from those countries was €31.5bn (+21.3%). In July 2010, shipments to the value of € 15.5bn (+13.5%) were dispatched to EU countries not belonging to the Eurozone, while the value of the commodities which arrived from those countries was €12.5bn (+23.0%).

Exports of commodities to countries outside the European Union (third countries) amounted to €34.4bn in July 2010, while imports from those countries totalled €25.4bn. Compared with July 2009, exports to third countries increased by 25.1% and imports from those countries by 30.8%.