German Exports Fall Unexpectedly

(RTTNews) - Germany's exports declined unexpectedly in August, while imports logged a moderate recovery, data from Destatis showed Thursday.

Exports dropped 0.8 percent on a monthly basis, following a 0.5 percent decrease in July. Exports were expected to grow 0.8 percent.

Meanwhile, imports rose 0.9 percent, reversing a fall of 5.5 percent in July. Economists had expected a 2.8 percent increase.

As a result, the trade surplus fell to EUR 19.5 billion from EUR 21.6 billion in July. In the same period last year, the surplus was EUR 17.6 billion.

On a yearly basis, growth in exports improved to 7.0 percent from 6.4 percent in July. Annual growth in imports accelerated to 6.0 percent from 3.2 percent.