Germany Trade Surplus Contracts in October

Germany's trade surplus dwindled in October as imports grew faster than exports, official data showed on Monday.

Europe's biggest economy exported goods worth a total of EUR 92.8 B in seasonally-adjusted terms in October, an increase of 0.2% from September, the national statistics office Destatis said, as cited by international media.

Imports, on the other hand, grew by 2.5% to EUR 77.6 B, so that the seasonally-adjusted trade surplus fell to EUR 15.2 B in October from EUR 16.9 B in September.

In the first 10 months of 2012, however, German exports rose by 4.8% to EUR 924.4 B, this time in unadjusted terms, while imports were up 1.7% at EUR 752.2 B. Seasonally-adjusted data for the 10-month period was not available.

That meant the unadjusted January-October trade surplus increased to EUR 159.2 B euros from EUR 130.1 B a year earlier.

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