Germany's exports rose 2.4% in August from July as imports grew 0.3% on seasonally adjusted basis; trade surplus grew to €18.3B from €11.6B a year ago
October 8, 2012
– Germany exported commodities to the value of Euro 90.1 billion and imported commodities to the value of Euro 73.8 billion in August 2012. The Federal Statistical Office (Destatis) also reports on the basis of provisional data that German exports hence increased by 5.8% and imports by 0.4% in August 2012 on August 2011. After calendar and seasonal adjustment, exports increased by 2.4% and imports by 0.3% compared with July 2012.
The foreign trade balance showed a surplus of Euro 16.3 billion in August 2012. In August 2011, the surplus had amounted to Euro 11.6 billion. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of Euro 18.3 billion in August 2012.
According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of Euro 11.1 billion in August 2012, which included the balance of services (– Euro 3.9 billion), factor income net (+ Euro 4.8 billion), current transfers (– Euro 3.5 billion), and supplementary trade items (– Euro 2.6 billion). In August 2011, the German current account had showed a surplus of Euro 7.9 billion.
In August 2012, Germany dispatched commodities to the value of Euro 48.7 billion to the Member States of the European Union (EU), while it received commodities to the value of Euro 45.0 billion from those countries. Compared with August 2011, dispatches to the EU countries increased by 0.4%, and arrivals from those countries by 0.7%. Commodities to the value of Euro 30.4 billion (–3.1%) were dispatched to the Euro area countries in August 2012, while the value of the commodities received from those countries was Euro 31.5 billion (+1.1%). In August 2012, commodities to the value of Euro 18.3 billion (+6.8%) were dispatched to EU countries not belonging to the Euro area, while the value of the commodities which arrived from those countries was Euro 13.5 billion (–0.4%).
Exports of commodities to countries outside the European Union (third countries) amounted to Euro 41.4 billion in August 2012, while imports from those countries totalled Euro 28.8 billion. Compared with August 2011, exports to third countries increased by 13.0%, imports from those countries by 0.1%.
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