BERLIN – German exports surged ahead in August after dropping the previous month — adding to encouraging, if inconclusive, data from Europe’s biggest economy.
The Federal Statistical Office said Monday that exports were up 5.4 per cent compared with a 2.6 per cent drop in July. In year-on-year terms, they climbed 9.8 per cent, with roughly equal gains in exports to countries inside and outside the European Union.
Imports rose 3 per cent on the month. Germany’s trade surplus edged up to 20 billion euros ($22.4 billion) from 19.5 billion euros in July.
ING-DiBa economist Carsten Brzeski said the volatility of July and August data makes it “hard to identify the real trend of the German economy.” He said the British pound’s fall and a broader trend of cooling global trade don’t bode well for exports.