Home / World Economy / World Economy News / German Exports Rose in September But Recovery Lost Steam

German Exports Rose in September But Recovery Lost Steam

German exports continued their recovery in September, albeit at a slower pace than in previous months, rising 2.3% from August in adjusted terms, statistics office Destatis said Monday.

Economists had forecast a 2.4% increase in exports in adjusted terms, according to a poll by The Wall Street Journal.

In September, imports fell 0.1% on month. The figures account for seasonal swings and calendar effects.

Compared with February, the month before the coronavirus lockdown, exports were down by a calendar- and seasonally adjusted 7.7%, and imports fell 5.7%, Destatis said.

Germany’s trade surplus–the balance of exports and imports of goods–totaled 17.8 billion euros ($21.2 billion) in calendar- and seasonally adjusted terms in September, Destatis said. Economists polled by The Wall Street Journal forecast the trade surplus at EUR16.0 billion.

Exports totaled EUR109.8 billion, while imports amounted to EUR89.0 billion, both in adjusted terms. Of the exports, EUR59.1 billion went to European Union member states and EUR50.7 billion to other countries.

According to provisional results from the Deutsche Bundesbank, the current account of the balance of payments showed a EUR26.3 billion surplus in September, which takes into account the balances of trade in goods including supplementary trade items, services, primary income and secondary income.
Source: Dow Jones

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping