German imports beat expectations in August on China bump

Posted on October 5, 2022Comments Off on German imports beat expectations in August on China bump

© Reuters. FILE PHOTO: Containers are seen at a terminal in the port of Hamburg, Germany November 14, 2019. REUTERS/Fabian Bimmer/File Photo GLOBAL BUSINESS WEEK AHEAD

BERLIN (Reuters) – German imports grew more than expected in August, up 3.4%, while exports also increased slightly more than expected, rising 1.6%, according to Federal Statistical Office data on Wednesday.

A Reuters poll had predicted a month-on-month rise in both exports as well as imports of 1.1%.

Most imports came from China in August, with goods to the value of 15.4 billion euros ($15.35 billion) coming from there, an increase of 2.2% compared with the previous month.

Germany had a seasonally adjusted trade surplus of 1.2 billion euros ($1.20 billion), the office reported, far less than a forecast surplus of 4 billion euros.

The statistics office publishes a detailed table with more economic data.

($1 = 1.0032 euros)

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Comments Off on German imports beat expectations in August on China bump