German exports slip despite strong US trade

German companies exported fewer goods in July despite a sharp increase in business with the United States. Total exports fell 0.8% from the previous month to 138 billion euros, according to the Federal Statistical Office.

The monthly decline followed a record high in June. Over the longer term, however, exports remained on an upward path, rising about 6% from July a year earlier.

The United States provided a notable lift. The value of goods shipped there increased by more than 19% from June’s weak level and by 28% compared with a year earlier. More than one in every 10 euros earned by German companies came from transatlantic trade.

That increase was not enough to offset weaker exports to China and Britain. Shipments to China fell 10%, with German companies selling less than 6 billion euros of goods there. Exports to Britain declined 7%. Imports from China also dropped sharply.

More than half of Germany’s exports continued to go to European Union member states. Overall imports into Germany fell significantly, pushing the trade surplus to about 21 billion euros, its highest level in two years.