German exports fall 2.8% in October

(Sharecast News) - German exports In October fell 2.8% and imports dropped 0.1% month on month on a seasonally adjusted basis, according to official data published on Friday. Exports also decreased by 2.8% from October 2023 while imports rose by 1.7%, the Federal statistics office Destatis added.

Exported goods were worth €124.6bn in the month, while imports were worth €111.2bn. The foreign trade balance showed a surplus of €13.4bn, compared with €16.9bn in September and €18.9bn in October 2023.

Most German exports in October 2024 went to the US, although the value of these fell 14.2% month on month to €12.2bn. Exports to China decreased by 3.8% to €6.9bn.

Imports from China fell 3% to €13.7bn, while those from the US were down 3.9% to €7.4bn.

Reporting by Frank Prenesti for Sharecast.com