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German trade surplus widens unexpectedly in August

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Staff Writer | October 9, 2018
German factory
Europe   Seasonally-adjusted terms the surplus increased from €15.9bn

Germany's foreign trade surplus widened unexpectedly in August on the back of a sharp drop in the country's imports.

According to the Federal Office of Statistics, in seasonally-adjusted terms the surplus increased from €15.9bn in July to €18.3bn for August.

In non-seasonally adjusted terms meanwhile, the foreign trade surplus increased from €16.5bn to €17.2bn (consensus: €16.2bn).

Commenting on the figures, Claus Vistesen at Pantheon Macroeconomics said they pointed to a positive contribution to GDP growth from trade during the quarter.

Nevertheless, year-to-date the surplus had shrunk by 2.6% versus a year ago, he pointed out, as a result of both a fall in imports from all of Germany's trading partners as well as a slowdown in exports.

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