German trade surplus narrows in June as US imports urge 20% monthly

Germany's trade surplus narrowed more than anticipated in June, data published by the Federal Statistical Office showed Thursday.

The country's trade surplus fell by 19% to EUR14.9 billion in June from EUR18.5 billion in May, sharper than the FXStreet-cited consensus of a milder decline to EUR17.3 billion in June.

Notably, exports rose by 0.8% monthly to EUR130.5 billion in June, while imports climbed 4.2% to EUR115.6 billion.

On-year, exports were up 2.4% in June, while imports grew by 7.9%.

Pertinently, German exports to the US were down by 2.1% monthly in June at EUR11.8 billion, while imports from the US jumped 20% monthly in June to EUR8.8 billion.

Meanwhile, German exports to China were up 1.1% monthly at EUR6.9 billion in June, while imports from China rose 5.8% monthly to EUR14.6 billion in June.

German exports to the UK edged up 0.4% monthly to EUR7.2 billion in June, while imports from the UK dropped 5.5% to EUR3.0 billion.

Separately, the statistical office reported that German industrial production fell 1.9% monthly in June, a sharp acceleration from May's 0.1% monthly decline.

On-year, industrial production dived 3.6% in June after a fall of 0.2% in May.

The decline in German production was mainly due to a fall in the manufacture of machinery and equipment, the pharmaceutical industry, and the food industry, the statistical office said. Meanwhile, there was growth in energy production in June.