Germany exported goods to the value of 103.1 billion euros and imported goods to the value of 83.0 billion euros in August 2017. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 7.2% and imports by 8.5% in August 2017 year on year. Compared with July 2017, exports increased by 3.1% and imports by 1.2% in calendar and seasonally adjusted terms.
The foreign trade balance showed a surplus of 20.0 billion euros in August 2017. In August 2016, the surplus amounted to 19.6 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 21.6 billion euros in August 2017.
According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of 17.8 billion euros in August 2017, which takes into account the balances of trade in goods including supplementary trade items (+21.8 billion euros), services (-4.9 billion euros), primary income (+4.4 billion euros) and secondary income (-3.5 billion euros). In August 2016, the German current account showed a surplus of 16.9 billion euros.
In August 2017, Germany exported goods to the value of 58.6 billion euros to the Member States of the European Union (EU), while it imported goods to the value of 53.8 billion euros from those countries. Compared with August 2016, exports to the EU countries increased by 8.5%, and imports from those countries by 10.8%. Goods to the value of 36.0 billion euros (+10.6%) were dispatched to the Euro area countries in August 2017, while the value of the goods received from those countries was 35.9 billion euros (+10.4%). In August 2017, goods to the value of 22.7 billion euros (+5.4%) were exported to EU countries not belonging to the Euro area, while the value of the goods imported from those countries was 17.9 billion euros (+11.4%).
Exports of goods to countries outside the European Union (third countries) amounted to 44.4 billion euros in August 2017, while imports from those countries totalled 29.2 billion euros. Compared with August 2016, exports to third countries increased by 5.6% and imports from those countries by 4.5%.
The monthly results of exports were slightly revised for the period January 2016 to July 2017.
The final results for 2016 will be published in the next press release for reference month September 2017.
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Source: DESTATIS, 10.10.2017