German trade surplus narrows as imports outpace exports

BERLIN – Import growth outpaced that of exports in October in Germany, narrowing the trade surplus of Europe’s largest economy.

The Federal Statistical Office said Monday that October exports were up 0.7 per cent and imports up 1.3 per cent compared with September, in calendar and seasonally adjusted terms.

That lowered the trade surplus to 17.3 billion euros ($19.74 billion) in October, from 17.7 billion euros in September.

Compared to October 2017, exports to European Union nations rose 8.1 per cent, and those to other countries were up 9.2 per cent, in unadjusted figures.

Imports from inside the EU rose 7.5 per cent in October 2018 compared to the same month in 2017, while imports from countries outside the bloc were up 8.3 per cent.