Latest data released by Destatis - 8 September 2020
- Prior €15.6 billion; revised to €15.5 billion
- Current account balance €20.0 billion vs €17.3 billion
- Prior €22.4 billion; revised to €20.4 billion
- Exports +4.7% vs +5.0% m/m expected
- Prior +14.9%
- Imports +1.1% vs +3.5% m/m expected
- Prior +7.0%
German trade balance grew by a little more than expected in July, as both exports and imports continue to rebound further though the latter wasn't as impressive relative to estimates. Amid flagging overseas demand and possibly some leveling off in domestic conditions, it remains to be seen how sustainable the pace of the recovery will be in getting towards pre-virus levels.
