German exports unexpectedly fell 0.8% in July, snapping a run of monthly gains that ran since February, as shipments to the European Union declined. Imports dropped even more sharply, pushing Germany's trade surplus higher for the month.
Germany's exports fell 0.8% in July compared with June, ending a run of monthly increases that had continued since February, data from the federal statistics office showed on Tuesday.
Exports to EU countries dropped 1.6% on the month. Exports to countries outside the EU, by contrast, edged up 0.2% over the same period. Economists polled by Reuters had forecast a 0.1% increase in overall exports for July, so the outcome missed expectations.
Imports fell more steeply than exports, dropping 5.7% on the month. As a result, Germany's trade surplus widened to €21.3 billion ($24.8 billion) in July. That marked an increase from €15.4 billion in June, even as the headline export figure weakened.
The German trade data arrived alongside separate figures showing a widening French trade deficit in June. Both releases stood in sharp contrast to a 25% surge in Chinese exports year-on-year in August, driven by high-tech and AI-related products.
Source: Investing.com
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