Germany exported goods to the value of 96.5 billion euros and imported goods to the value of 76.5 billion euros in August 2016. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 9.8% and imports by 5.3% in August 2016 year on year. Compared with July 2016, exports were up by 5.4% and imports by 3.0% in calendar and seasonally adjusted terms.
The foreign trade balance showed a surplus of 20.0 billion euros in August 2016. In August 2015, the surplus amounted to +15.2 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 22.2 billion euros in August 2016.
According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of 17.9 billion euros in August 2016, which takes into account the balances of trade in goods including supplementary trade items (+22.2 billion euros), services (-5.6 billion euros), primary income (+5.8 billion euros) and secondary income (-4.5 billion euros). In August 2015, the German current account showed a surplus of 14.4 billion euros.
The post Major improvement for German exports and imports in August appeared first on forex-analytics.press.