ISTANBUL: Germany’s foreign trade balance posted a surplus of pound 22.5 billion ($24.66 billion) in August, according to federal statistical office Destatis on Wednesday, above market expectations.?
The country’s exports totaled pound 131.9 billion, up 0.1% on a yearly basis, and imports amounted to pound 109.4 billion, down 3.1%, Destatis stated.
Germany exported goods worth pound 72.7 billion to the EU member states in the month, while it imported goods worth pound 57.4 billion from these countries.
Exports of goods to countries outside the EU amounted to pound 59.2 billion in August, while imports from these countries were at pound 52 billion.?
Most German exports in August went to the US with pound 13.5 billion, while China was the main import source with pound 13.2 billion.
Exports to Russia decreased by 9.5% to pound 600 million in August from July, and dropped by 11.8% compared with August 2023, when exports to Russia were already at a very low level as a result of the Russian war on Ukraine.
Im
ports from Russia dropped by 29.1% to pound 100 million in August from July, and were down 41.4% compared with August 2023.
Source: Anadolu Agency