German Trade Surplus Narrows in September
The German trade surplus decreased to EUR 18.4 billion in September 2018 from EUR 24.2 billion in the same month a year earlier, as imports rose by 5.3 percent to EUR 90.7 billion, while exports fell 1.2 percent to EUR 109.1 billion.
11/8/2018 9:27:06 AM
Imports grew by 5.3 percent from a year earlier to EUR 90.7 billion in September. Purchases from the EU increased by 5.8 percent to EUR 52.1 billion, of which Euro area countries (9.3 percent to EUR 34.1 billion), while there was a decline in inbound shipments from other European countries (-0.3 percent to EUR 18.0 billion). At the same time, imports from countries outside the EU rose by 4.7 percent to EUR 38.6 billion.
Meanwhile, exports declined 1.2 percent to EUR 109.1 billion, as sales to the EU contracted 0.4 percent to EUR 64.7 billion, of which other European countries (-2.0 percent to EUR 23.7 billion), while there was an increase in sales for Euro area countries (0.6 percent to EUR 41.0 billion). In addition, exports to countries outside the EU shrank 2.2 percent to EUR 44.4 billion.
On a seasonally adjusted basis, the trade surplus narrowed to EUR 17.6 billion in September from a downwardly revised EUR 18.2 billion in August but slightly above market expectations of EUR 18 billion. Exports dropped unexpectedly by 0.8 percent, missing forecasts of a 0.3 percent rise and after an upwardly revised 0.1 percent rise in a month earlier. Imports also declined at a softer 0.4 percent, compared to market consensus of a 0.8 percent rise and following 2.4 percent decline in August.
Considering January to September 2018, the trade surplus narrowed to EUR 174.4 billion from EUR 186.6 billion in the corresponding period the prior year.