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Germany’s exports and import fall in October

by ChemOrbis Editorial Team - content@chemorbis.com
  • 09/12/2015 (17:10)
According to media reports, Germany’s exports and imports declined in October from a month earlier, leading to weaker trading activities for the export-driven German economy. Data from Germany’s official statistics office, Destatis, showed that exports posted a monthly decline of 1.2% on a seasonally and calendar adjusted basis while imports also decreased 3.4% in October.

On a yearly basis, Germany’s total exports to countries within Europe increased 3.3% in October compared with the same month of 2014 to €106.2 billion ($117 billion) while exports to countries outside Europe declined 0.9% from October 2014. Slower demand from the Chinese and Russian economies was cited among the main reasons why German exports came down outside Europe.

The country’s trade surplus, meanwhile, increased to a seasonally adjusted €20.3 billion ($22.3 billion) in October from a revised €19.3 billion ($21.2 billion) in the previous month, which exceeded economists’ initial forecasts of a surplus of €20.1 billion ($22 billion), according to a survey by the Wall Street Journal.
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