German Imports Rise Higher While Exports Fall in June 2019

According to data released by the Federal Statistics Office, German imports increased by more than expected even as exports fell lower. This news release does not bode well for the German as well as the Eurozone economies, both of which are experiencing a weakening over global trade tensions.

Seasonally adjusted imports rose by 0.5% while exports were down 0.1% for the month of June. Germany’s trade surplus touched 18.1 billion Euros, while the previous month’s trade surplus was also revised lower to 18.1 billion Euros. Economists had previously forecast a 0.3% increase in imports and a 0.1% decrease in exports. They had also expected the trade surplus to come in at 18.6 billion Euros for the month.

Early on Friday, EUR/USD continues to trade bearish, weakening to 1.118 at the time of writing.