Germany's trade surplus rose slightly in October

According to the report from Federal Statistical Office (Destatis), Germany exported goods to the value of 119.5 billion euros and imported goods to the value of 98.0 billion euros in October 2019. Destatis also reports that German exports increased by 1.9% and imports decreased by 0.6% in October 2019 year on year. After calendar and seasonal adjustment, exports were up 1.2% compared with September 2019, while imports remained nearly unchanged.

The foreign trade balance showed a surplus of 21.5 billion euros in October 2019. In October 2018, the surplus amounted to 18.7 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 20.6 billion euros in October 2019.

A separate report from Deutsche Bundesbank showed that current account of the balance of payments showed a surplus of 22.7 billion euros in October 2019, which takes into account the balances of trade in goods including supplementary trade items (+22.5 billion euros), services (-4.3 billion euros), primary income (+9.0 billion euros) and secondary income (-4.5 billion euros). In October 2018, the German current account showed a surplus of 20.3 billion euros.

In October 2019, Germany exported goods to the value of 70.0 billion euros to the Member States of the European Union (EU), while it imported goods to the value of 55.2 billion euros from those countries. Compared with October 2018, exports to the EU countries increased by 0.1%, while imports from those countries were down 0.2%. Exports of goods to countries outside the European Union (third countries) amounted to 49.5 billion euros in October 2019, while imports from those countries totalled 42.8 billion euros.