Exports rose 2.9 percent to € 37.33 billion in October due to higher sales of capital goods (+ 3.7 percent) and consumer goods (+ 3.3 percent). However, energy sales decreased 12.2 percent. Shipments to the European Union increased by 4.7 percent with Belgium (+ 14.4 percent), Czech Republic (+ 9.4 percent) and Poland (+ 8.8 percent) being the most dynamic markets for exports. In contrast, shipments to non EU countries fell 0.9 percent mostly due to a drop in sales to Japan (-11.2 percent) and Russia (-10.5 percent).
Imports fell 1.6 percent year-on-year to € 31.94 billion. Purchases of capital goods increased 4.1 percent while consumer goods rose 2.6 percent. On the other hand, imports of energy dropped 18.3 percent.
Considering the first ten months of 2014, exports increased 1.6 percent over a year earlier and imports shrank 1.8 percent, bringing the country’s trade surplus to € 33.6 billion.