German exports fall unexpectedly in August

German Exports Drop in August as US Demand Slumps, Trade Surplus Narrows

German Trade Performance in August 2023

(Adds fell in lead)

By Maria Martinez

Export and Import Figures

Oct 8 (Reuters) - German exports fell unexpectedly in August due to sharp decline in exports to the United States.

Exports fell by 0.8% compared with the previous month, data from the federal statistics office showed on Thursday.

The result compared with a forecast 0.6% increase in a Reuters poll.

Imports and Trade Surplus

Imports were up 0.9% on a calendar and seasonally adjusted basis compared with July.

As a result, the trade surplus narrowed to €19.5 billion ($21.82 billion) in August from €21.6 billion in July.

Export Destinations Breakdown

European Union and Non-EU Countries

Exports to EU countries dropped by 0.6% on the month, while exports to countries outside the EU decreased by 1.1%.

United States and United Kingdom

Exports to the United States fell by 6.3% on July, while exports to the United Kingdom increased by 16.7%.

China

Meanwhile, exports to China rose by 4.7% but imports increased by 11.0%.

Exchange Rate

($1 = 0.8935 euros)

Reporting Credits

(Reporting by Basile Day in Gdansk and Maria Martinez in Berlin, Editing by Friederike Heine)