BERLIN, Aug. 7 (Xinhua) -- Germany's foreign trade surplus shrank in June, with exports dropping by 3.4 percent and imports increasing by 0.3 percent compared to the previous month, the Federal Statistical Office reported on Wednesday.
In June, Germany's exports amounted to 127.7 billion euros (139.2 billion U.S. dollars). This represents a 4.4-percent decrease compared to the same month last year, according to the report. Exports to the United States, a key trading partner, fell by 7.7 percent month-on-month, following a 2.9-percent decline in May. In contrast, exports to China increased by 3.4 percent.
The drop in exports is in line with the forecast of the ifo Institute for Economic Research, which predicted a slight downturn in sentiment within the German export sector at the end of June. The ifo indicator for export expectations decreased from 0.2 point to minus 1 point in June.
"No clear direction is currently emerging," ifo expert Klaus Wohlrabe said, emphasizing that the German export sector still requires significant improvement.
In June, China continued to be Germany's largest supplier, with goods worth 12.3 billion euros, despite a 4.9-percent decrease from the previous month. Meanwhile, imports from the United States declined by 7.4 percent, while those from the United Kingdom increased by 11.1 percent. (1 euro = 1.09 U.S. dollars) ■