German exports and imports fall more than expected

Trade surplus widened to €20.8bn from €19.2bn in October versus September

General view of the container terminal  in the harbour of Hamburg
General view of the container terminal in the harbour of Hamburg

German imports fell sharply in October and exports also weakened, suggesting Europe's largest economy is still struggling to shake off the impact of a slowdown in China and other emerging markets.

Seasonally-adjusted exports edged down by 1.2 per cent while imports slid 3.4 per cent, the second time in three months that imports have dropped sharply, data from the Federal Statistics Office showed on Wednesday.

Economists polled by Reuters had been expecting exports to fall by 0.5 per cent and imports to decline by 1 per cent.

The trade surplus widened to €20.8 billion from €19.2 billion in the previous month.

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Foreign trade was a drag on German growth in the third quarter, and lower-than-expected industrial output data on Monday suggested weak demand from emerging markets is still taking a toll.

Reuters