Financial News: German Exports Fall; Imports Rise

German Exports Fall; Imports Rise

11/07/2024 - 04:09:00 (RTTNews)

(RTTNews) - Germany's exports declined for the first time in three months in September, while imports recovered from last month, data from Destatis showed on Thursday.

Exports slid 1.7 percent month-on-month in September, in contrast to the 1.2 percent increase in August. Shipments were forecast to grow 1.4 percent.

Meanwhile, imports grew 2.1 percent after a 2.6 percent fall seen in August. Economists had forecast imports to fall 0.4 percent.

As a result, the trade surplus fell to adjusted EUR 17.0 billion from EUR 21.4 billion in August. In the same period last year, the surplus was EUR 18.6 billion.

On a yearly basis, exports dropped 0.3 percent, while imports grew 1.3 percent. The unadjusted trade surplus totaled EUR 18.5 billion compared to EUR 20.3 billion in the last year.

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