Finance
German exports fall more than expected in October
Published by Global Banking & Finance Review®
Posted on December 13, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 13, 2024
1 min readLast updated: January 27, 2026
German exports fell 2.8% in October, exceeding forecasts. The trade surplus decreased, with notable declines in exports to the US and China.
By Maria Martinez
(Reuters) -German exports fell more than expected in October, an indication that the long-awaited recovery in external demand has been delayed.
Exports fell by 2.8% compared with the previous month, data from the federal statistics office showed on Friday.
The result went beyond the 2% decrease forecast in a Reuters poll.
The foreign trade balance showed a surplus of 13.4 billion euros ($14.02 billion) in October, down from 16.9 billion euro the previous month and 18.9 billion euros in October 2023.
Exports to EU countries dropped by 0.7% on the month and exports to third countries declined by 5.3%, data from the statistics office showed.
Most German exports in October went to the United States, although exports of goods to the U.S. were down 14.2% compared with September.
Exports to China decreased by 3.8% on the month and exports to the U.K. rose by 2.1%, the statistics office said.
($1 = 0.9559 euros)
(Reporting by Amir Orusov and Maria Martinez, editing by Kirsti Knolle and Friederike Heine)
The article discusses the decline in German exports in October 2023, surpassing expectations and affecting the trade balance.
Exports of goods to the US decreased by 14.2% compared to September.
The trade surplus in October was 13.4 billion euros, down from the previous month.
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