Latest data released by Destatis - 8 October 2020
- Prior €19.2 billion
- Current account balance €16.5 billion vs €16.2 billion expected
- Prior €20.0 billion; revised to €21.0 billion
- Exports +2.4% vs +1.5% m/m expected
- Prior +4.7%
- Imports +5.8% vs +1.5% m/m expected
- Prior +1.1%
The data is released slightly earlier than expected (by about 30 seconds). But it shows a reduced trade surplus as imports grew at a faster pace than exports on the month.
The good news is that both exports and imports are seen improving and that points to healthier trade conditions after having been disrupted by the virus crisis. However, both imports and exports still lag compared to pre-virus levels so baby steps.
