German Trade Surplus Narrows in October
The German trade surplus decreased to EUR 18.3 billion in October 2018 from EUR 19.1 billion in the same month a year earlier.
Imports jumped 11.3 percent from a year earlier to EUR 98.9 billion in October. Purchases from the EU increased by 7.5 percent to EUR 55.1 billion, of which Euro area (7.1 percent to EUR 35.3 billion) and non-Euro area countries (8.3 percent to EUR 19.7 billion). In addition, imports from countries outside the EU surged 16.4 percent to EUR 43.8 billion.
Meanwhile, exports increased at a slower 8.5 percent to EUR 117.2 billion. Sales to the EU went up 8.1 percent to EUR 69.8 billion, in particular Euro area (8.9 percent to EUR 44.0 billion) and non-Euro area countries (6.9 percent to EUR 25.8 billion). Also, sales to countries outside the EU grew 9.2 percent to EUR 47.4 billion.
On a seasonally adjusted basis, the trade surplus narrowed slightly to EUR 17.3 billion in October from an upwardly revised EUR 17.7 billion in September and below market expectations of EUR 17.7 billion. Imports increased by 1.3 percent, against market consensus of a 0.4 percent rise, and exports rose at a slower 0.7 percent, still beating expectations of a 0.5 percent advance.
Considering January to October 2018, the trade surplus narrowed to EUR 192.5 billion
from EUR 205.7 billion in the corresponding period of the previous year.
12/10/2018 2:08:27 PM