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German exports grow in September, foreign trade surplus rises

Source FxWire Pro Friday, 8 Nov, 2019 13:33:48 GMT
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The German Federal Statistical Office reported that the nation’s exports rose 4.6 percent on a year-on-year basis in September, whereas imports grew 2.3 percent. On a seasonally adjusted basis, exports grew 1.5 percent sequentially, whereas imports rose 1.3 percent. Germany recorded a trade surplus of EUR 21.1 billion in September. In the same month of 2018, the surplus was EUR 18.2 billion. On a sequential basis, the German foreign trade balance recorded a surplus of EUR 19.2 billion.

Meanwhile, the current account of the balance of payments indicated a surplus of EUR 25.5 billion in September, which takes into account the balances of trade in goods including supplementary trade items, services, primary income and secondary income. The German current account had recorded a surplus of EUR 18.9 billion in September of 2018.

German exports to the EU member states came in at a value of EUR 68.4 billion, whereas it imported goods to the value of EUR 53.6 billion. On a year-on-year basis, exports to the EU nations rose 5.6 percent, whereas imports rose 2.1 percent. To the euro area nations, Germany exported goods to the value of EUR 43 billion and imported to the value of EUR 34.4 billion.

To the nations outside the EU, exports amounted to EUR 45.7 billion, while imports from those nations came in at EUR 39.4 billion. On a year-on-year basis, exports to nations outside of EU rose 3.2 percent, whereas imports rose 2.5 percent.

Source: FxWire Pro
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