Financial and Business News

Delay of trade surplus in Germany

Today, the Bureau of National Statistical Office in Wiesbaden published data on the trade balance of the largest European economy in July. German exports fell by more than economists expected, as this is likely due to the slowing of the economy in the world and record oil prices reached in July. Seasonal weighted exports fell by 1.7 percent over June, as forecasts were for the decrease by 1.1 percent. On an annual basis, exports account growth by 7 percent. Exports of the biggest European economy in July was valued at 87.1 billion euros. Export is the victim most of the slowing economies of the biggest commercial partners of Germany.
In the second quarter GDP of the euro zone fell by 0.2 percent and is likely to be recorded and fall in the third quarter of the year. And even though oil prices have fallen by almost 29 percent of the record levels reached in July, they remain 40 percent higher than the levels only contact year. In July, German imports grow by 7.4 percent from the previous month, reaching 73.2 billion euros, taking its increase on an annual basis was 16 percent.
The trade balance in the country that represents the difference between exports and imports remains active, but the surplus decreased to 13.9 billion euros. By comparison, exports in June was more than imports with 19.7 billion euros. The trade balance also affect the Gross Domestic Product of the country, as growth in exports means jobs and growth in production, and vice versa.
Seasonal weighted value of the trade balance also reduced in July, compared to the previous month, reaching 11.8 billion euros. The balance on current account in Germany, which represents the ratio between the amount of the payments coming from abroad and the amount of payments which go abroad, also decreased to 11.8 billion euros in July as in June was 18.5 billion euros.

Labels: Financial News

posted by Zoritza Petrova @ 3:16 AM