German trade surplus narrows in July

Germany's trade surplus narrowed in July as exports weakened, data published by the federal statistics office Destatis showed on Friday. In seasonally adjusted terms, Germany exported goods worth 90.3 billion euros ($118.6 billion) in July, down from 91.2 billion euros in June, Destatis calculated in a statement. Imports, on the other hand, increased fractionally to 75.8 billion euros from 75.4 billion euros. That meant the seasonally adjusted trade surplus -- which is the balance between imports and exports -- narrowed to 14.5 billion euros in July from 15.8 billion euros in June. In unadjusted terms, the trade surplus also decreased slightly to 16.1 billion euros from 16.9 billion euros, as imports grew faster than exports, Destatis said. Exports to the euro area fell by 0.7 percent on a 12-months basis in July, while exports to the European Union as a whole edged up by 0.8 percent and exports to the rest of the world were up by 3.6 percent, the statisticians said.