Germany: Merchandise exports grow at a slower pace in October
Merchandise exports rose 0.8% month-on-month on a calendar- and seasonally-adjusted basis in October, down from September’s 2.3% increase. Import growth, on the other hand, accelerated to 0.3% mom in October, from September’s 0.2% rise. That said, the calendar- and seasonally-adjusted trade surplus rose from EUR 17.6 billion in September to EUR 18.2bn in October.
Compared to the same month a year prior, merchandise exports dropped 6.5% in October (September: -3.8% year-on-year) and imports contracted 5.9% in the same month (September: -4.0% yoy). Lastly, the trend pointed down with the 12-month rolling average sum of the trade balance inching down to EUR 183.4 billion in October from EUR 185.5bn in September.