Fall in German exports narrows trade surplus for October

Imports and Exports | | MIC Customs Solutions |

Germany's trade surplus narrowed in October following an unexpected decline in exports.

New German trade data has shown that Europe's largest economy experienced a narrowing of its trade surplus during October 2017.

Seasonally adjusted exports took an unexpected 0.4 per cent tumble, despite economists having predicted a one per cent increase. Meanwhile, imports jumped by 1.8 per cent thanks to strong domestic demand, beating the 1.1 per cent growth forecast.

The new data from the Federal Statistics Office revealed a seasonally adjusted trade surplus of €19.9 billion, down from an upwardly revised €21.9 billion figure for September and lower than the Reuters consensus forecast of €21.8 billion.

Moreover, the nation's wider current account surplus - measuring the flow of goods, services and investments fell to €18.1 billion, down from an upwardly revised reading of €25.8 billion in September.

This report followed economic data released last week showing a fall in German industrial output in October, meaning the country's economy commenced the fourth quarter of the year in a weaker-than-expected position.