German Trade Surplus Declines in October

According to a recent report by the Federal Statistical Office Destatis, Germany's trade surplus stood at €13.4 billion in October, a decrease from September's €16.9 billion and the €18.9 billion recorded in October 2023.

Exports and Imports Analysis

The country's calendar and seasonally adjusted goods exports totaled €124.6 billion, marking a 2.8% decline both month-on-month and year-over-year. Meanwhile, imports amounted to €111.2 billion, down 0.1% from the previous month but up 1.7% annually.

Trade with EU and Non-EU Countries

Exports to the European Union dropped by 0.7% in October compared to September, reaching €68.9 billion. Imports, however, increased by 0.4% to €57.9 billion. Exports to non-EU countries fell significantly by 5.3% to €55.7 billion, while imports from these countries decreased by 0.6% to €53.3 billion.