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Trade helps boost German economic recovery with fourth monthly gain

October 14, 2020


Abstract : German trade grew at a faster-than-forecast pace in August, posting its fourth monthly gain and providing a major boost to Europe's biggest economy as it attempts to emerge from the coronavirus crisis.

German trade grew at a faster-than-forecast pace in August, posting its fourth monthly gain and providing a major boost to Europe's biggest economy as it attempts to emerge from the coronavirus crisis.

While monthly exports rose by 2.4 percent in August, imports steamed ahead by 5.8 percent, the Federal Statisical Office (Destatis) noted on Thursday.

Analysts had forecast an August rise of 1.5 percent for both exports and imports.

The nation's trade balance stood at 12.8 billion euros (15.07 billion dollars) in August, Destatis said.

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