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Germany's July 2023 imports surge as exports slip slightly

The foreign trade balance showed a surplus of €**.* billion in July ****, down from €**.* billion in June but markedly up from €*.* billion in July last year, according to provisional data from the Federal Statistical Office (Destatis).

Trade within the European Union (EU) was relatively stable. Germany exported goods worth €**.* billion to EU member states, a slight *.* per cent increase from June, and imported €**.* billion, up *.* per cent. Exports to countries outside the EU declined by *.* per cent, totalling €**.* billion, and imports from these countries also fell marginally by *.* per cent to €**.* billion.