GERMANY’S FOREIGN TRADE SURPLUS DECREASED THIS MONTH
Germany’s foreign trade data have updates for this month. Seasonally and calendar adjusted exports of the country increased by 0.7 percent in October. Comparison to the previous month brings out this data. This is due to the Chinese and European Union trade disputes with the US. Besides, imports increased by 1.3 percent.
Foreign Trade Surplus Decreased
According to data from the German Federal Office of Statistics (Destatis), the seasonally and calendar adjusted exports in the country were 110.8 billion Euros in October this year and imports were 93.5 billion Euros. The seasonally and calendar adjusted foreign trade surplus fell by 400m Euros compared to September and amounted to 17.3 billion Euros.
Compared to the previous month, the country’s exports increased by 0.7 percent and imports increased by 1.3 percent in October.
Considering the unadjusted figures, exports in August amounted to 117.2 billion Euros and imports to 98.9 billion Euros. Thus, Germany gave 18.3 billion Euros of foreign trade surplus in October.
While Germany’s 69.8 billion Euros of exports in October were to the European Union (EU), while 55.1 billion Euros of imports came from the EU. While exports to EU countries increased by 8.1 percent compared to the same month of the previous year, imports from these countries increased by 7.5 percent.
47.4 billion Euros in exports to the countries outside the EU, 43.8 billion Euros in imports were also made. The country’s exports in this category increased by 9.2 percent compared to October 2017 and imports increased by 16.4 percent.
Foreign trade surplus in 10 months is 192.5 billion Euros
The country’s total exports in the January-October period of this year increased 4.1 percent compared to the same period of the previous year to 1 trillion 105 billion Euros, while imports increased by 6.6 percent to 912.8 billion Euros. Thus, the country’s trade surplus was 192.5 billion Euros in the first nine months of this year.