German trade surplus rose to EUR 24 billion in June

FXStreet (Mumbai) - The data released by the German Federal Statistical Office (Destatis) on Friday showed a record trade surplus of EUR 24.0 billion in June 2015. In June 2014, the surplus amounted to EUR 16.2 billion. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 22.0 billion euros in June 2015.

Year-on-year German exports increased by 13.7% and imports by 6.4% in June 2015. After calendar and seasonal adjustment, exports fell by 1.0% and imports by 0.5% compared with May 2015. German H1 trade surplus surged 25.3% year-on-year to EUR 123.7 billion.

Exports to non-EUR countries rise 15.8% year-on-year

Exports of goods to countries outside the European Union (third countries) amounted to 44.5 billion euros in June 2015, up 15.8% year-on-year. The official report revealed that In June 2015, goods to the value of EUR 22.6 billion (+14.2%) were dispatched to EU countries not belonging to the Euro area.

The year-on-year surge in exports to non-EU countries is hardly surprising since the EUR/USD rate had depreciated significantly. It June 2014 average stood at 1.3550, while the June 2015 average stood at around 1.1200