German Imports Surge in July, Mirroring Strong Domestic Demand

By Nina AdamFeaturesDow Jones Newswires

Imports to Germany surged in July, official data showed Friday, in a sign that domestic demand continues to drive the upswing of Europe's largest economy.

Total goods imports rose 2.2% from June, while exports increased 0.2%, the German Federal Statistical Office said, referring to data that takes account of seasonal swings and calendar effects.

Continue Reading Below

However, the figures also highlight German exporters' resilience in the wake of a stronger euro, which has risen more than 12% against the dollar over the past five months.

Compared with July 2016, exports increased 8% in non-adjusted terms and imports surged 9.4%. The strongest annual export gains came from countries outside the European Union, the numbers showed, reflecting a pickup in demand for high-end engineering goods from China and greater Asia.

As a consequence, Germany's adjusted trade surplus--or the balance of exports and imports--fell to EUR19.5 billion ($23.5 billion) this July from EUR21.2 billion in June, undershooting a consensus forecast of EUR21 billion.

Write to Nina Adam at

(END) Dow Jones Newswires

September 08, 2017 02:53 ET (06:53 GMT)