Germany Exports Rise Unexpectedly In October

Germany's exports expanded unexpectedly, while imports remained flat in October, figures from Destatis revealed Monday.

Exports grew 1.2 percent on a monthly basis in October, confounding expectations for a decline of 0.3 percent. However, the monthly growth eased from 1.5 percent in September.

At the same time, imports remained unchanged from September, when it advanced 1.2 percent. Economists had forecast a 0.1 percent drop.

As a result, the trade surplus rose to a seasonally adjusted EUR 20.6 billion from EUR 19.2 billion in September.

On a yearly basis, exports growth eased sharply to 1.9 percent from 4.6 percent in September. Meanwhile, imports declined 0.6 percent, in contrast to a 2.2 percent rise a month ago.

The trade surplus increased to EUR 21.5 billion in October from EUR 18.7 billion in the same period last year.

The current account balance showed a surplus of EUR 22.7 billion versus a EUR 20.3 billion surplus in the previous year.



by WooHoo Ireland


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