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German exports and imports increased in the month of August 2012. Destatis, the federal statistics office, said this morning that following seasonal adjustments, exports increased by 2.4% and imports by 0.3% compared with July 2012. There was a slight deficit in trade with the other 16 members of the Eurozone. Germany exported commodities to the value of €90.1 billion (bn) and imported commodities to the value of € 73.8bn in August 2012. Destatis also reports on the basis of provisional data that German exports rose by 5.8% and imports by 0.4% in August 2012 on August 2011.
The foreign trade balance showed a surplus of €16.3bn in August 2012. In August 2011, the surplus had amounted to €11.6bn. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of €18.3bn in August 2012.
According to provisional results of the Deutsche Bundesbank, the central bank, the current account of the balance of payments showed a surplus of €11.1bn in August 2012, which included the balance of services (- €3.9bn), factor income net (+ €4.8bn), current transfers (- €3.5bn), and supplementary trade items (- €2.6bn). In August 2011, the German current account had showed a surplus of €7.9bn.
In August 2012, Germany dispatched commodities to the value of €48.7bn to the member states of the European Union, while it received commodities to the value of €45.0bn from those countries. Compared with August 2011, dispatches to the EU countries increased by 0.4%, and arrivals from those countries by 0.7%.
Exports of commodities to countries outside the European Union (third countries) amounted to €41.4bn in August 2012, while imports from those countries totalled €28.8bn.
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India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.