BERLIN, Oct. 9 (Xinhua) -- Germany's trade surplus declined slightly in August as import growth outpaced increases in exports, preliminary figures published by the Federal Statistical Office showed on Tuesday.
According to the Wiesbaden-based government agency, Germany exported goods worth 105.2 billion euros (120.4 billion U.S. dollars) and imported goods worth 88.1 billion euros in August, marking increases of 2.2 percent and 6.2 percent respectively compared to August 2017.
As a consequence, an overall monthly trade surplus of 17.2 billion euros was recorded in August, down from 20 billion euros during the same period last year. On a seasonally- and calendar adjusted basis, the August trade surplus came in slightly higher at 18.3 billion euros.
Compared to the previous month of July, exports fell by 0.1 percent and imports declined by 2.7 percent.
The data published on Tuesday provided further tentative evidence of a gradual shift in Germany towards lower trade surpluses and more consumption-driven growth. Back in June, the Federal Statistical Office emphasized that the volume of imports hit the highest level since the beginning of trade measurements in 1950.
Broken down by region, Germany's foreign trade partners continued to be concentrated within the European Union (EU). The country exported goods worth 59.3 billion euros (plus 1.2 percent) to other members of the bloc in August 2018 while receiving imports worth 48.3 billion euros (plus 5.2 percent).
The eurozone hereby accounted for the bulk of EU exports (36.4 billion euros, plus 1.3 percent) and imports (31.4 billion, plus 1.3 percent). During the same period, non-EU countries received 45.9 billion euros (plus 3.5 percent) of German goods and were the source of 39.7 billion euros (plus 7.2 percent) of monthly imports. (1 euro = 1.14 U.S. dollars)
