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Economy in Brief

German Trade Balance Declines In June But Is Up Substantially For The Quarter
by Louise Curley August 10, 2004

Preliminary data on Germany's international trade position show that the balance on trade in goods declined 1.44 billion euros from 15.22 billion euros in May to 13.78 billion euros in June.

The decline was the result of 3.69 billion euros decline in exports and a 2.25 billion euros decline in imports.

In spite of the decline in the balance in June, the balance for the second quarter of the year was 4.29 billion euros above the first quarter and 12.29 billion euros above the balance in the second quarter of 2003. Comparable figures for exports were 7.44 billion euros and 21.39 billion euros and for imports 3.15 billion euros and 9.10 billion euros.

International trade has been an important factor in the recent recovery of the German economy. Its continued importance should be evident when the preliminary data for the second quarter GDP will be released next week.

Germany Jun 04 May 04 Jun  03 M/M    Dif Y/Y  Dif 2003  2002    2001 
Trade Balance Goods (Bil. Euro) 13.78 15.22 10.65 -1.44 3.13 133.43 133.97 96.32
Exports (Bil. Euro) 59.60 63.25 54.17 -3.69 5.43 666.79 654.25 641.07
Imports (Bil. Euro) 45.82 48.07 43.52 -2.25 2.30 533.36 520.25 544.75
  Q2 04   Q1 04   Q2 03 Q/Q  Dif  Y/Y Dif       
Trade Balance Goods (Bil. Euro) 43.51 39.22 31.51 4.24 12.29      
Exports (Bil. Euro) 183.98 176.50 162.59 7.44 21.39      
Imports (Bil. Euro) 140.47 137.32 131.37 3.15 9.10      
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