Destatis released its trade data for Germany on Tuesday. Germany's seasonally adjusted trade surplus climbed to €22.8 billion in July from 22.1 in June.

Exports increased at a seasonally and calendar-adjusted 2.4% in July, while imports rose 2.2%. These were the highest seasonally adjusted monthly readings ever calculated both for exports and for imports, according to Destatis.

Germany's current account surplus was at €23.4 billion in July, down from €24.4 billion in June.