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11.09.202514:20:53UTC+00Germany’s Current Account Surplus Narrows in July

In July, Germany's current account surplus decreased to €14.8 billion, down from a revised figure of €18.8 billion from the same month the previous year. This decline is primarily attributed to the growth in imports, which exceeded that of exports. The surplus in goods contracted to €16.4 billion from €20.9 billion, with imports rising by 7.2% to €102.0 billion, while exports increased by only 2.0% to reach €118.4 billion. The services deficit expanded slightly to €10.1 billion from €9.0 billion. However, partially mitigating these effects, the primary income surplus rose to €14.2 billion compared to €12.7 billion previously, and the secondary income deficit remained almost unchanged at €5.7 billion. Over the January to July timeframe, the current account surplus reduced to €125.4 billion, down from €163.1 billion during the same period last year.

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