09.09.202106:59:00UTC+00Germany Exports Growth Slows In July

Germany's exports growth eased in July and imports declined for the first time in three months, data from Destatis showed on Thursday.

Exports grew 0.5 percent on a monthly basis, as expected, following a 1.3 percent rise in June.

At the same time, imports dropped unexpectedly by 3.8 percent, reversing June's 0.7 percent increase. Economists had forecast a monthly growth of 0.2 percent.

The trade surplus increased to a seasonally adjusted EUR 17.9 billion from EUR 13.5 billion in the previous month.

On a yearly basis, exports climbed at a slower pace of 12.4 percent after rising 23.6 percent in June. Likewise, growth in imports eased to 16.6 percent from 27.1 percent in the previous month. The trade surplus totaled unadjusted EUR 18.1 billion versus EUR 19.2 billion in the same period last year.

Data showed that the current account surplus fell to EUR 17.6 billion in July from EUR 20.2 billion last year.