German exports rise at fastest pace in a year in August 2017

Imports and Exports | | MIC Customs Solutions |

August 2017 saw Germany experience the biggest monthly rise in exports since the previous year, according to new data.

Germany experienced a strong month of international trading in August 2017, with a surge in the value of exports despite the current strength of the euro.

The nation's seasonally adjusted exports increased 3.1 per cent from July, while imports rose by 1.2 per cent, with both figures coming in ahead of expectations. This resulted in a higher seasonally adjusted trade balance of €21.6 billion.

This rise in exports was the largest seen since August 2016, defying economists' predictions that the recent rise in the value of the euro would have a negative impact on overseas demand.

As such, 2017 is on course to be the best year for German exports since 2010, although geopolitical risks or a slowdown of the US or UK economy could check this momentum in the coming months.

Carsten Brzeski, an economist at ING, said: "For the time being, the German economy is enjoying the best of all worlds: strong domestic demand and surging exports."