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German trade surplus widens in August compared to July

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German trade surplus widens in August compared to July

Germany's posted a seasonally adjusted trade surplus of €21.6 billion surplus in August, up from a €19.5 billion surplus the month before, provisional data from the Federal Statistics Office showed.

Exports rose 3.1% to €108.4 billion, while imports gained 1.2% to €86.8 billion, the office said. In unadjusted terms, the trade surplus rose to €20.0 billion in August from 19.5 billion in July and compared to a €19.6 billion surplus a year ago. Year over year, exports gained 7.2% to €103.1 billion, while imports rose 8.5% to €83.0 billion, according to the unadjusted provisional data.

Germany's current account surplus, which takes into account trade in services and income from foreign investments as well as trade in goods, slipped to €17.8 billion from €19.4 billion in July's, but was higher than the €16.9 billion surplus a year earlier, the statistics office said.

A separate report by the statistics office showed that turnover in the main German construction industry in July was up 8.0% year over year and the number of persons employed by the main industry companies was up 2.8% annually.