Germany's Trade Surplus Narrows In October As Imports Rise While Exports Hold Steady

Germany’s trade surplus in October declined to 16.8 billion euros ($23.02 billion) from a record high of 18.8 billion euros (seasonally adjusted) in the previous month, data released by the Deutsche Bundesbank showed on Monday.

Analysts had expected the surplus to narrow modestly to 18 billion euros in October. In seasonally-adjusted terms, Germany’s exports increased by 0.2 percent to 92.9 billion euros and imports rose by 2.9 percent to 76.1 billion euros in October compared with September 2013, data showed.

According to provisional estimates, the current account of the balance of payments showed a surplus of 19.1 billion euros in October 2013, which included the balance of services (–0.8 billion euros), factor income net (+6.7 billion euros), current transfers (–3.0 billion euros), and supplementary trade items (–1.7 billion euros), compared to a surplus of 15.5 billion euros in October 2012.

According to the data, Germany’s exports to the European Union, or EU, member states increased by 2.1 percent to 57.3 billion euros and imports rose by 3.1 percent to 53.3 billion euros, year-on-year in October.

In October 2013, German exports of goods to countries outside the EU stood at 41.7 billion euros, while imports from those countries amounted to 27.9 billion euros. Compared with October 2012, exports outside EU decreased by 1.3 percent and imports fell by 9.4 percent, data showed.