German exports dropped less than expected
While imports unexpectedly fell in August, German exports fell less than expectations in September, as evidenced by data from Destatis showed Thursday.
In September, exports fell 0.4% month-on-month, after rising 2% in August. Economists predicted that the volume of deliveries decreased by 1.3%.
Imports unexpectedly declined by 1% on a monthly basis, in contrast to the 0.8 percent recorded in August. Economists expected a monthly increase of 0.4 percent.
As a result, the trade surplus with the seasonally adjusted basis rose slightly to 21.8 billion Euro to 21.3 billion euros last month.
In annual terms, export growth eased from 7.3% to 4.6%. Similarly, import growth declined to 5.5% compared to 8.2% in August.
The current account of the balance of payments scored a surplus of 25.4 billion Euro to 23.5 billion Euro in the corresponding period of 2016.