German export growth slowed in July and imports fell for the first time in three months, Destatis data showed on Thursday.
Exports grew by 0.5 percent monthly, as expected, after rising 1.3 percent in June.
At the same time, imports fell unexpectedly by 3.8 percent, reversing the 0.7 percent rise in June. Economists had predicted a monthly increase of 0.2 percent.
The trade surplus increased to 17.9 billion euros from the previous month’s seasonally adjusted 17.5 billion euros.
On an annual basis, exports grew at a slower pace of 12.4 percent after growing by 23.6 percent in June. Similarly, import growth fell to 16.6 per cent from 27.1 per cent last month.
The trade surplus was unadjusted by € 18.1 billion, compared with € 19.2 billion in the same period last year.
The data showed that the current account surplus fell to € 17.6 billion in July from € 20.2 billion a year earlier.
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