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German trade surplus narrows in October

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German trade surplus narrows in October

Germany's foreign trade balance posted a surplus of 19.9 billion in October on calendar- and seasonally adjusted terms, down from an estimated €21.8 billion surplus in September, preliminary data from the Federal Statistical Office showed.

Exports declined 0.4% in October to €107.0 billion from €107.5 billion in September. Imports increased 1.8% to €87.2 billion from a revised €85.6 billion in the previous month.

In unadjusted terms, the trade surplus stood at €18.9 billion in October, down from €24.1 billion in the previous month but up from €18.8 billion in the year-ago period. Year over year, the unadjusted exports reached €108.0 billion in October, down from €110.4 billion in September. Imports rose to €89.1 billion from €86.3 billion.

October's current account surplus dropped to 18.1 billion from a revised 25.8 billion in September and 18.4 billion in the year-ago period, according to provisional calculations by Deutsche Bundesbank.