Monday, August 9, 2010

German Trade Balance surplus bulges up


Forex Special  - The EU's biggest economy printed another surplus in June's Trade Balance. Germany's exports increased by 28.5%, totaling 86.5Bn, whereas imports rose by 31.7% to 72.4Bn, once seasonally adjusted leaving a final surplus of 12.3Bn. The reading matches markets expectations of improvement over previous' 10.6Bn. 

Forecast on the current account result was a soaring of surplus from a previous 2.2Bn to 13.6Bn. Capital flow managed a surplus of 12.9Bn. Europe continues to be Germany's biggest client, the official release elaborates "In June 2010, Germany dispatched commodities to the value of EUR 52.6 billion to the Member States of the European Union (EU), while it received commodities to the value of EUR 45.9 billion from those countries."

Trade Balance

€12.3B
Actual
€12.3B
Consensus

Current Account

12.9B
Actual
13.6B
Consensus

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