Germany: Merchandise exports contract in September
Seasonally adjusted merchandise exports fell 2.3% month on month in September, contrasting August’s 0.1% increase. September’s outturn marked the worst decline since March. Meanwhile, seasonally adjusted merchandise imports decreased 1.8% on a month-on-month basis in September (August: -0.3% mom s.a.).
As a result, the merchandise trade balance improved from the previous month, recording a USD 19.2 billion surplus in September (August 2023: USD 16.0 billion surplus; September 2022: USD 9.1 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 182.5 billion surplus in September, compared to the USD 172.3 billion surplus in August.