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Germany foreign trade surplus expands in October with imports flat

Germany's foreign trade surplus expanded in October from the prior month as exports increased while imports were flat, provisional data from the Federal Statistical Office showed.

The country's foreign trade surplus rose to €20.6 billion in October from €19.2 billion surplus in September, after calendar and seasonal adjustments. Adjusted exports were up 1.2% to €113.0 billion, while imports were flat at €92.4 billion on a monthly basis.

In unadjusted terms, Germany's foreign trade surplus increased to €21.5 billion during October from €21.2 billion in the prior month and €18.7 billion in October 2018. Exports rose 1.9% in annual terms to €119.5 billion during October, while imports shrank 0.6% to €98.0 billion.

German exports to EU countries edged 0.1% higher year over year to €70.0 billion in October, while imports from EU countries slipped 0.2% to €55.2 billion. Shipments to countries outside the EU rose 4.6% on an annual basis to €49.5 billion during October, while imports from non-EU countries fell 1% to €42.8 billion.

In the first 10 months of 2019, Germany's unadjusted foreign trade surplus narrowed to €190.1 billion from €194.5 billion in the year-ago period.

The country's current account surplus dropped to €22.7 billion in October from €24.9 billion in the previous month.