Germany’s trade surplus down at $18.6B

ISTANBUL

Germany’s foreign trade surplus reached $18.6 billion in July, according to official data released on Friday.

The figure was down from $22.6 billion in June, the Destatis data showed.

German exports fell 1.2% in July on an annual basis to $144.5 billion, and its imports dropped 0.1% to $125.8 billion.

On a monthly basis, exports and imports rose 1.7% and 5.4%, respectively.

Most German exports in July went to the US, valued at $12.7 billion, down 1.7% on a monthly basis.

German exports to China in July fell 8% to $8.1 billion and to the UK lost 2.7% to $7.1 billion month-on-month.

Germany’s largest source of imports was China in July, whose value reached $15.1 billion, up 6.6% on a monthly basis.

German exports to Russia surged 18.9% to $778.1 million, while imports from the country dropped 6.5% to $111.1 million month-on-month in July.