Berlin, Nov. 2, (dpa-AFX/GNA) - Germany’s exports dropped unexpectedly and imports logged their first fall in eight months in September, official data revealed on Wednesday.
Exports dropped 0.5% month-on-month, Destatis reported. This was followed by a 2.9% rise in August. Shipments were expected to gain 0.1%.
At the same time, imports registered a decline of 2.3%, in contrast to a 4.9% rise in August. Imports were forecast to ease 0.4%. This was the first fall since January.
As the pace of fall in imports exceeded the decline in exports, the trade surplus increased to a seasonally adjusted €3.7 billion ($3.7 billion) from €1.2 billion in the previous month. The surplus was forecast to fall to €0.7 billion.
On a yearly basis, exports logged a double-digit growth of 20.3% but slower than the prior month’s 23.1% increase. Likewise, imports growth eased to 30.7% from 37.6%. Exports to EU member states fell 1.7% and those to euro area economies dropped by 1.6%.
Imports from EU member states and Eurozone decreased 1.2% and 0.6%, respectively. Data showed that exports to the Russia slid 5.4% from August and imports from Russia plunged 33.1%. Germany exported 5.6% more goods to the United States, while imports from the US fell 1.3%.
GNA