Data from the German Federal Statistical Office showed an unexpected decline in the country’s exports during last August, while imports fell more than expected.
The data revealed a 0.5% monthly decrease in exports, whereas analysts had predicted a 0.3% increase following a 0.2% drop in July.
At the same time, Germany’s imports in August dropped by 1.3%, while analysts expected a 0.5% decline after a 0.7% decrease in the previous July.
With imports falling more sharply than exports, Germany’s trade surplus rose to 17.2 billion euros in August, up from 16.3 billion euros in July.
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