Current: Small ray of hope in german foreign trade

For weeks now, only bad economic data has been coming from Germany. This morning there is good news at least for this moment. For the month of July, exports were up by 3.8% year-on-year, while imports fell by 0.9%. Not only is the foreign trade surplus thus rising from 18 to 20.2 billion Euros. Since May 2018, the percentage rates of change have always been higher for imports without interruption than for exports. But this month exports are better than imports. German exports to countries outside the EU in particular are growing particularly strongly at +9.8%.

Here further details in the wording of the Federal Statistical Office:

In July 2019, goods worth 64.2 billion Euros were exported to the member states of the European Union (EU) and goods worth 52.8 billion Euros were imported from them. Compared to July 2018, exports to EU countries fell by 0.5% and imports from these countries by 1.6%. In July 2019, goods worth 41.3 billion Euros (-0.2%) were exported to the Eurozone countries and goods worth 34.9 billion Euros (-3.4%) were imported from these countries. In July 2019, goods worth 22.9 billion Euros (-1.1%) were exported and goods worth 18.0 billion Euros (+2.0%) imported from EU countries outside the Eurozone.

In July 2019, goods worth 51.0 billion Euros were exported to countries outside the European Union (third countries). Goods worth 40.9 billion Euros were imported from these countries. Compared to July 2018, exports to third countries increased by 9.8%. Imports from these countries fell by 0.1%.

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