Germany’s seasonally adjusted trade surplus narrows in June on higher imports

Germany’s seasonally adjusted trade surplus narrowed in June as imports grew more than exports. On seasonally adjusted basis, exports rose 0.3 percent month-on-month in June, while imports grew 1 percent. German’s official statistics office, Destatis, stated that on an annual basis, German exports rose 1.2 percent, whereas imports were up 0.3 percent.

According to Destatis, Germany exports goods to the value of EUR 106.8 billion, whereas imported goods amount to EUR 82 billion in June. On seasonally adjusted basis, trade surplus narrowed to EUR 21.7 billion in June from May’s surplus of EUR 22.1 billion.

Germany exported goods worth EUR 62.7 billion to the EU in June 2016, whereas it imported goods worth EUR 55.2 billion from EU. On a year-on-year basis, the nation’s exports to the EU rose 2.3 percent, while imports grew 3.3 percent. Exports to the euro area were up 0.1 percent, whereas imports increased 3 percent.

“Compared with June 2015, exports to third countries decreased by 0.4 percent and imports from those countries by 5.4 percent,” stated Destatis.