Germany May trade balance €12.6 billion vs €15.4 billion expected
Latest data released by Destatis - 8 July 2021
- Prior €15.9 billion
- Exports +0.3% vs +0.6% m/m expected
- Prior +0.3%
- Imports +3.4% vs +0.4% expected
- Prior -1.7%
The narrower trade surplus comes as imports outpaced exports on the month but the bump on both fronts continue to reaffirm that trade conditions are still picking up as the economic recovery stays the course going into the summer.
Of note, June exports are down 0.3% compared to February 2020 levels while imports were 9.4% higher, so that's a positive sign all things considered.