The Federal Statistical Office (Destatis) reported Tuesday that Germany's trade surplus expanded to EUR22.3 bln in June from an unrevised EUR22 bln in May, but was lower than a surplus of EUR24.5 billion recorded in the same month a year earlier.

According to the report, German exports increased by 0.7 percent y-o-y and imports grew by 3.6 percent y-o-y in June.

On a seasonally adjusted basis, the trade surplus rose to EUR 21.2 billion in June from EUR20.3 billion in May. Exports increased 2.8 percent m-o-m, while imports were down by 4.5 percent m-o-m.

The current account of the balance of payments posted a surplus of EUR23.6 billion in June compared to EUR24 billion in the corresponding period of 2016.