World Economy

German Trade Surplus Up

German Trade Surplus UpGerman Trade Surplus Up

Germany posted a record trade surplus of 22.2 billion euros in July, suggesting Europe's largest economy could bounce back strongly in the third quarter after suffering a surprise contraction in the second, Reuters reported. Data from the Federal Statistics Office showed the trade surplus widened far more than expected (Euro 16.8b), as seasonally adjusted exports surged by 4.7 percent, biggest increase since May 2012. Imports fell by 1.8 percent. Current Account surplus also widened to  Euro 21.7 billion in July, from Euro 17.2 billion in June.