German Exports Experience a Sharper Than Expected Decline in August, Trade Surplus Narrows Further - Forex News by Strategia Forex
German exports decline

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

Posted Thursday, October 10, 2019 by
Arslan Butt • 1 min read

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.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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