Economy
German Exports Reach All-Time High -- Text of Federal Statistical Office (Destatis) Statement
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Germany exported goods to the value of 101.0 billion euros and imported goods to the value of 77.6 billion euros in July 2014. This is the highest monthly export value ever reported. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 8.5% and imports by 1.0% in July 2014 on July 2013.
In a month-on-month comparison, opposite calendar and seasonally adjusted developments were recorded for exports and imports. While exports rose by 4.7% on June 2014, imports went down 1.8%.The foreign trade balance showed a record surplus of 23.4 billion euros in July 2014. In July 2013, the surplus amounted to +16.3 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 22.2 billion euros in July 2014.
According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of 21.7 billion euros in July 2014, which takes into account the balances of trade in goods including supplementary trade items (+24.7 billion euros), services (-5.9 billion euros), primary income (+5.9 billion euros) and secondary income (-3.0 billion euros). In July 2013, the German current account showed a surplus of 12.3 billion euros.
In July 2014, Germany dispatched goods to the value of 56.9 billion euros to the Member States of the European Union (EU), while it received goods to the value of 50.4 billion euros from those countries. Compared with July 2013, dispatches to the EU countries increased by 9.6%, and arrivals from those countries by 2.6%. Goods to the value of 35.5 billion euros (+6.2%) were dispatched to the Euro area countries in July 2014, while the value of the goods received from those countries was 34.7 billion euros (-0.5%). In July 2014, goods to the value of 21.4 billion euros (+15.9%) were dispatched to EU countries not belonging to the Euro area, while the value of the goods which arrived from those countries was 15.7 billion euros (+10.3%).
Exports of goods to countries outside the European Union (third countries) amounted to 44.1 billion euros in July 2014, while imports from those countries totalled 27.2 billion euros. Compared with July 2013, exports to third countries increased by 7.2%, while imports from those countries decreased by 1.8%.
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