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
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
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
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