The Federal Statistical Office reported that Exports It grew by 1.3% compared to the previous month, contrary to expectations that indicated a decline of 1.0% according to a Reuters poll.
The trade balance surplus expanded to 22.5 billion euros, after it was 16.9 billion euros in July.
This increase was driven by a 5.5% increase in exports to USwhich remained the largest importer of German products.
Exports also rose to ChinaGermany’s most important trading partner, by 1.9%.
The statistics office indicated that shipments to other European Union countries increased by 0.8%.
On the import front, it imported Germany Goods worth 109.4 billion euros in August, representing a decrease of 3.4% compared to the previous month, with a trade surplus of 22.5 billion euros.
The German economy is still suffering due to high energy prices resulting from the Russian war in Ukrainethe decline in manufacturing, and the slowdown in private consumption, which led to a contraction of the economy in 2023.
The expected recovery has not yet materialized, as the Ministry of Economy is expected to announce a lowered forecast later today.
According to media reports, Berlin is likely to announce its forecast for a 0.2% contraction in 2024.
