German Exports Rise Unexpectedly In August

German Exports Rise Unexpectedly In August

Germany's exports grew unexpectedly in August on higher demand, data from Destatis showed Monday.

Exports rose at a faster pace of 2.4 percent from a month ago, when it climbed 0.4 percent. At the same time, the increase in imports remained unchanged at 0.3 percent. Economists had forecast a 0.6 percent drop in exports and imports to grow 0.2 percent.

On a yearly basis, exports gained 5.8 percent and imports moved up 0.4 percent. The trade surplus totaled EUR 16.3 billion compared to EUR 16.9 billion in the prior month.

The current account surplus increased to EUR 11.1 billion in August from EUR 7.9 billion a year ago.