Germany's foreign trade surplus declines to USD18.6B from USD22.6B in July
(MENAFN) Germany's foreign trade surplus stood at USD18.6 billion in July, according to official data released on Friday. This marked a decrease from the USD22.6 billion surplus reported in June, reflecting a narrowing gap in the country's trade balance. The decline in the surplus came amid shifts in both export and import figures.
In July, German exports fell by 1.2 percent year-on-year, totaling USD144.5 billion, while imports saw a slight decrease of 0.1 percent, amounting to USD125.8 billion. On a month-to-month comparison, there was a rise in both exports and imports, with exports increasing by 1.7 percent and imports rising by 5.4 percent. This indicates a month-on-month uptick in trade activity despite the annual decline.
The United States was the largest recipient of German exports in July, with a value of USD12.7 billion, although this represented a 1.7 percent decrease from the previous month. Meanwhile, German exports to China and the United Kingdom fell by 8 percent and 2.7 percent, respectively, amounting to USD8.1 billion and USD7.1 billion. These declines reflect varying demand patterns in these key markets.
China emerged as Germany’s primary source of imports in July, with imports valued at USD15.1 billion, reflecting a 6.6 percent increase from the previous month. In contrast, German exports to Russia saw a notable surge of 18.9 percent, reaching USD778.1 million, while imports from Russia declined by 6.5 percent to USD111.1 million. These changes underscore shifting dynamics in Germany's trade relationships with major global partners.
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