Germany's foreign trade surplus declines in October
Date
12/14/2024 4:27:53 AM
(MENAFN) Germany's foreign trade balance recorded a surplus of €13.4 billion (USD14 billion) in October, falling short of market expectations and down from €17 billion (USD 7.8 billion) in September.
Exports totaled €124.6 billion (USD130 billion) in October, marking a 2.8 percent decline compared to the same month last year, while imports amounted to €111.2 billion (USD 116billion), reflecting a 1.7 percent increase. These figures were released by the Federal Statistical Office, Destatis, on Friday.
On a month-to-month basis, Germany's exports decreased by 2.8 percent, while imports saw a slight dip of 0.1 percent in October.
Within the European Union, Germany exported goods worth €68.9 billion (USD72 billion) to fellow EU member states and imported €57.9 billion (USD60.5 billion) worth of goods from these countries.
Exports to non-EU countries (third countries) reached €55.7 billion (USD58.2 billion) in October, while imports from these countries totaled €53.3 billion (USD55.6 billion).
Germany's exports to Russia saw a significant drop, falling 9.4 percent compared to the previous month, amounting to just €0.6 billion (USD0.63 billion) in October.
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