German trade surplus shrinks as exports decline

9th December 2011, Comments 0 comments

The German trade surplus contracted in October as both exports and imports declined, official data showed on Friday.

Europe's biggest economy exported goods worth a total 88.1 billion euros ($117 billion) in seasonally-adjusted terms in October, 3.6 percent less than in September, the national statistics office Destatis said.

Imports declined by 1.0 percent to 75.5 billion euros, so that the seasonally-adjusted trade surplus declined to 12.6 billion euros from 15.1 billion euros in September.

Taking the 10 months to October as a whole, German exports rose 12.5 percent over the year-earlier period to 881.1 billion euros in unadjusted terms, while imports were up 14.6 percent at 750.7 billion euros.

That meant the 10-month trade surplus increased by 1.5 percent to 130.3 billion euros.

© 2011 AFP

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