Investing.com - Germany's trade surplus widened unexpectedly in August, official data showed on Monday.
In a report, the German Federal Statistics Office said the trade balance, or difference between imported and exported goods and services, widened to EUR13.8 billion in August, up from EUR10.6 in July, whose figure was revised up from EUR10.1 billion.
Economists had expected the trade balance to narrow to EUR9.8 billion in August.
The report said that exports rose by 3.5% in August, while imports were flat during the month.
Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD climbing 0.75% to trade at 1.3479.
Meanwhile, European stock markets were up after the open. The EURO STOXX 50 rose 0.6%, France’s CAC 40 advanced 0.5%, the FTSE 100 added 0.35%, while Germany's DAX was up 0.3%.
In a report, the German Federal Statistics Office said the trade balance, or difference between imported and exported goods and services, widened to EUR13.8 billion in August, up from EUR10.6 in July, whose figure was revised up from EUR10.1 billion.
Economists had expected the trade balance to narrow to EUR9.8 billion in August.
The report said that exports rose by 3.5% in August, while imports were flat during the month.
Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD climbing 0.75% to trade at 1.3479.
Meanwhile, European stock markets were up after the open. The EURO STOXX 50 rose 0.6%, France’s CAC 40 advanced 0.5%, the FTSE 100 added 0.35%, while Germany's DAX was up 0.3%.