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Financial News: Germany Exports Recover In October

Germany Exports Recover In October

12/09/2021 - 02:23:00 (RTTNews)

(RTTNews) - Germany's exports rebounded in October, data published by Destatis showed on Thursday.

Exports grew by adjusted 4.1 percent on a monthly basis in October, reversing a 0.7 percent fall in September. Economists had forecast an increase of 0.9 percent.

Imports advanced 5 percent on month, bigger than the 0.4 percent increase posted in September. Imports were forecast to grow again by 0.4 percent in October.

As the increase in imports exceeded that of exports, the trade surplus fell to EUR 12.5 billion from EUR 12.9 billion in the previous month. The expected level was EUR 13.4 billion.

On a yearly basis, exports growth improved to 8.1 percent from 7.2 percent. At the same time, imports surged 17.3 percent versus the 13.3 percent increase in the previous month.

Consequently, the trade surplus declined to an unadjusted EUR 12.8 billion from EUR 19.7 billion in the same period last year. The current account surplus showed a surplus EUR 15.4 billion versus a EUR 24.4 billion surplus in the same period last year.

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