German exports slowed their growth in October to 0.8 %

Compared to the same month in 2019, German sales abroad fell by 6.5 % year-on-year

German exports registered a monthly growth of 0.8 %  in October, reaching 112,000 million euros, the lowest since April, while compared to the same month of 2019, German sales abroad fell by 6.5 % year-on-year, as reported by the Federal Statistics Office (Destatis).

For their part, imports from Germany increased by 0.3 % compared to the previous month, to 92,700 million euros, a figure that was 5.9 % lower than in October 2019. Compared to last February, Last month before the impact of the pandemic, Germany’s exports in October were still 6.8 % lower, while imports were 5.9 % lower.

Thus, Germany’s trade surplus reached 19.4 billion euros in October, compared to 21.3 billion the previous year. In seasonally adjusted data, the German trade surplus registered a positive trade balance of 18.2 billion.

Regarding its main trading partners, German exports to the EU totaled 59.7 billion euros in October, 5.1 % less than in October 2019, including 41.1 billion in sales to the euro zone, 6.4 % less , while exports to countries outside the Twenty-seven decreased by 8 % year-on-year, to 52.4 billion.

For its part, Germany’s imports from the EU fell by 5.9 %, to 50.4 billion euros, including 33.7 billion in purchases from euro zone countries, 5.1 % less. In the case of third countries, German imports fell by 9.2 % year-on-year, to 42.2 billion euros.

Source: dpa

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