Germany’s foreign trade surplus amounted to pound 17.8 billion ($19.4 billion) in October, its highest level since June, according to official data released on Monday.
The figure improved from a 4-month low of pound 16.7 billion in September and pound 7.8 billion in October 2022, Destatis data showed.?
German exports dropped 8.1% year-on-year to pound 126.4 billion in October, the lowest since March 2022.
Its imports also plunged 16.3% to nearly a 2-year low of pound 108.6 billion.
Compared to a month ago, exports and imports ticked down 0.2% and 1.2%, respectively.
Germany’s shipments to non-EU countries amounted to pound 58.5 billion, while its imports were pound 51.8 billion.
Most German exports in September went to the US, worth pound 13.5 billion, a hike of 5.7% from September.
Exports to China increased by 1.5% to pound 7.9 billion and to the UK up by 5.6% to pound 6.6 billion.
Germany’s main source of imports was China with pound 12.7 billion, a decline of 2.4% from a month ago.
Its purchases
from the US rose by 2.2% month-on-month to pound 7.7 billion in November.
Shipments to Russia, meanwhile, plummeted 40.5% from a year ago to pound 600 million, while imports from the country totaled pound 200 million, diving 88.5% in the same period.
Source: Anadolu Agency