⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

German Exports Experience a Sharper Than Expected Decline in August, Trade Surplus Narrows Further

According to data released by the Federal Statistics Office, German exports declined by 1.8% MoM in August even as imports climbed 0.5% higher during this period. This was the steepest decline in exports since April, coming in weaker than economists’ expectations which were for a 1% decline in exports and a 0.2% decline in imports.

Germany’s trade surplus has reduced to 18.1 billion euros in August from a revised reading of 20.5 billion euros in July. Economists were expecting the trade surplus to reduce to 19 billion euros.

This news does not bode well the German economy which is heavily reliant on its manufacturing sector and trade. The risks of a recession in the economy continue to climb higher with the release of disappointing economic data. Earlier this week, German industrial orders had also shown a sharp decline during the month of August on the back of weakening domestic demand.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles