Germany’s exports and imports declined more than expected in October, figures from Destatis revealed Wednesday.
Exports fell 1.2 percent in October from September, when it advanced 2.6 percent. Shipments were expected to fall 0.6 percent.
Likewise, imports declined 3.4 percent in contrast to September’s 3.8 percent increase. Economists had forecast a 1 percent drop for October.
As imports declined more than exports, the trade surplus rose to around a seasonally adjusted EUR 20.8 billion in October from about EUR 19.2 billion a month ago.
On a yearly basis, growth in exports eased to 3.3 percent from 4.3 percent. Similarly, the increase in imports slowed to 3 percent from 4 percent.
On an unadjusted basis, the trade surplus fell slightly to EUR 22.5 billion from EUR 22.8 billion in September. It was expected to decrease to EUR 21.7 billion.
At the same time, the current account of the balance of payments showed a surplus of EUR 23.0 billion, which was below last month’s EUR 25 billion surplus.
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