03.11.202307:55:00UTC+00German Exports Fall More Than Expected

Germany's exports declined more than expected in September, data from Destatis showed on Friday.

Exports decreased 2.4 percent month-on-month, in contrast to the 0.1 percent gain in August. Economists had forecast shipments to decline 1.1 percent.

At the same time, the fall in imports deepened to 1.7 percent from 0.3 percent. The monthly fall confounded economists' forecast of 0.5 percent increase.

As a result, the trade surplus fell to EUR 16.5 billion from EUR 17.7 billion in August. The expected level was EUR 16.3 billion.

Year-on-year, the decline in exports worsened to 10.5 percent from 5.3 percent. Likewise, imports fell 18.5 percent, following a 17.0 percent decrease in August.