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News : EU Economy Last Updated: Sep 7, 2012 - 11:24 AM

German exports and imports rose in July; Trade deficit with Eurozone in month
By Finfacts Team
Sep 7, 2012 - 9:23 AM

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German exports unexpectedly rose in July but as imports rose by more, the trade surplus narrowed according to data today from Destatis, the  federal statistics office. There was a trade deficit in the month with the rest of the Eurozone. Germany exported commodities to the value of  €93.6bn and imported commodities to the value of  €76.7bn in July 2012. German exports are up by 9.2% and imports by 1.9% in July 2012 on July 2011. After seasonal adjustment, exports increased by 0.5% and imports by 0.9% compared with June 2012.

The foreign trade balance showed a surplus of  €16.9bn in July 2012. In July 2011, the surplus had amounted to  €10.4bn. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of  €16.1bn in July 2012.

According to provisional results of the Deutsche Bundesbank, the central bank, the current account of the balance of payments showed a surplus of  €12.8bn in July 2012, which included the balance of services (–  €3.6bn), factor income net (+ €4.9bn), current transfers (– €2.5bn), and supplementary trade items (– €2.8bn). In July 2011, the German current account had showed a surplus of  €8.3bn.

In July 2012, Germany dispatched commodities to the value of  €51.8bn to the member countries of the  European Union (EU ), while it received commodities to the value of  €49.3bn from those countries. Compared with July 2011, dispatches to the EU countries increased by 4.4%, and arrivals from those countries by 5.6%. Commodities to the value of  €34.1bn (+3.2%) were shipped to Eurozone countries in July 2012, while the value of the commodities received from those countries was  €34.7bn (+6.7%). In July 2012, commodities to the value of  €17.6bn (+6.9%) were shipped to EU countries not belonging to the  Eurozone while the value of the commodities which arrived from those countries was  €14.6bn (+3.3%).

Exports of commodities to countries outside the  European Union (so-called third countries) amounted to  €41.8bn in July 2012, while imports from those countries totalled  €27.4bn. Compared with July 2011, exports to third countries increased by 15.9%, while imports from those countries fell by 4.2%.

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