German exports dropped 0.8% in August from July, confounding forecasts for a 0.6% increase, as shipments to the United States fell 6.3%. The trade surplus narrowed to €19.5 billion from €21.6 billion in July, while exports to the U.K. and China both rose.
Germany's exports fell 0.8% in August compared with July, data from the federal statistics office showed on Thursday. The reading missed a Reuters poll that had forecast a 0.6% increase for the month.
U.S. shipments lead the decline
Exports to the United States fell 6.3% from July. Exports to EU countries dropped 0.6% over the same month, while shipments to nations outside the bloc fell 1.1%.
Not every destination weakened, though. Exports to the United Kingdom rose 16.7%. Exports to China increased 4.7%. Imports from China, meanwhile, climbed 11%.
Trade surplus narrows
Imports overall moved in the opposite direction from exports. They rose 0.9% on a calendar and seasonally adjusted basis compared with July. As a result, the trade surplus narrowed to €19.5 billion in August, down from €21.6 billion in July.
Source: Reuters
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