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(CEP News) Frankfurt - According to the Federal Statistical Office (Destatis), Germany's external trade surplus rose to €19.7 billion in June from the previous month's €14.3 billion. Economists had expected a less pronounced rise to €15.5 billion while May's figure was revised down from €14.4 billion.
As reflected in the increase in the trade surplus, exports had risen 4.2% in June 2008 compared to May, up from both the previous month's 3.4% fall and the 1.8% gain expected. May's export change was revised down from -3.2%. Meanwhile, imports contracted 0.1% over the same period, despite expectations of a 1.8% jump. May had recorded a 0.5% increase in imports, revised down from 0.7% The German current account surplus also saw an increase in the month, rising to €18.5 billion, according to the Bundesbank. June's current account surplus more than doubled the previous month's €7.7 billion figure, which was revised up from €7.5 billion. Economists had expected a surplus of €12.0 billion. By Todd Wailoo,
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, edited by Nancy Girgis,
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