German Exports Rose More Than Expected In September

German Exports Rose More Than Expected In September

German exports rose more than expected in September, and imports fell surprisingly. The result was an increase in the trade surplus. Exports rose 2.3 percent month-on-month in September, according to the Federal Statistical Office Destatis. Economists counted on an increase of only 2 percent. However, the growth rate of exports slowed from 2.9 percent in August. On the contrary, imports fell by 0.1 percent, with +2.1 percent forecast. In August, imports jumped 5.8 percent. The foreign trade surplus reached a seasonally adjusted base of 17.8 billion euros in September, after 15.4 billion euros in August. Economists predicted a surplus of 15.8 percent. In a year-on-year comparison, exports fell by 3.8 percent in September after a fall of 10.2 percent in August. Imports fell 4.3 percent after -6.8 percent in the previous month. The trade surplus on an unadjusted basis was € 20.8 billion after € 21.2 billion in September 2019. Germany's current account surplus rose to € 26.3 billion in September from € 23.5 billion in the same period last year.