German exports decline in October

FRANKFURT – Agence France-Presse

REUTERS photo

Germany’s exports declined in October as demand for goods and services from Europe’s biggest economy outside slowed outside the region, official data showed on Dec. 9.

German exports fell by a seasonally adjusted 1.2 percent to 99 billion euros ($108 billion) in October, the federal statistics office calculated.

But imports fell even more sharply, dropping 3.4 percent to 78.3 billion euros, meaning that the trade surplus - the balance between exports and imports - grew to 20.7 billion euros, the statisticians said.

In unadjusted terms, exports edged up by 0.4 percent, while imports grew by 0.8 percent, meaning the unadjusted trade surplus contracted slightly to 22.5 billion euros, Destatis said.

On a year-on-year basis, exports to the EU increased by 6.4 percent, with exports to the eurozone up 5.8 percent, while exports to countries outside the EU declined by 0.9 percent, the statistics office said.