Germany posts $5.4B foreign trade surplus in July

By Aysu Bicer

ANKARA (AA) - Germany recorded a foreign trade surplus of €5.4 billion ($5.4 billion) in July, according to official data released on Friday.

Imports and exports surged 29.3% and 14.3% on an annual basis to €125.9 billion and €131.3 billion, respectively, according to the Federal Statistical Office (Destatis).

​​​​​​​Germany’s exports to Russia dropped 15.1% to €1 billion on a monthly basis, while imports declined by 17.4% to €2.9 billion.

Most German exports in July went to the US, while the largest amount of imports came from China, Destatis reported.