German Trade Surplus Widens In July

Sep 7, 2007 - The German trade surplus widened to 17.9 billion euros in July, the Federal Statistical Office said Friday. The trade surplus increased from 16.5 billion euros registered in June. A year ago, the trade surplus amounted to 13.0 billion euros. Economists expected an excess of 15.6 billion euros. On a seasonally adjusted basis, the trade balance showed a surplus of 16.4 billion euros.

Exports grew 11.8% annually, while it dropped 0.1% from the prior month. Meanwhile, imports increased 6.3% on a yearly basis to 63.6 billion euros in July. Compared to the last month, imports were down 2.4%.

Meanwhile, the current account surplus narrowed to 14.1 billion euros from a revised surplus of 16.4 billion euros recorded in June. The number was revised down from 16.6 billion euros estimated earlier. The current account surplus amounted to 7.3 billion euros in the prior year. The current account surplus for July came in better than the expected number of 12.2 billion euros.