Germany Trade Surplus Slightly Expands in September

Germany's trade surplus increased marginally in September, as imports fell more than exports compared to August.

According to official data from the Federal Statistics Office, the surplus stood at €21.8 billion in September on a seasonally adjusted basis from €21.3 billion in August.

The widening came as exports dropped 0.4 percent to €107.5 billion, and imports dropped one percent to €85.7 billion. The surplus was €20.2 billion the previous year.

The reading, which followed months of growth in both exports and imports, showed that sales of German goods and services abroad only slightly grew overall in the third quarter.

According to economists, trade would not provide any significant contribution to expansion in the quarter, but they are optimistic about the outlook given strong demand for German goods.

Industrial firms posted a 3.6 percent rise in orders in August after contracts for “Made in Germany” goods dropped by an upwardly revised 0.4 percent in July, recent data showed.

Export growth has been softer, which indicates that the economy is counting more on consumption, state spending and construction as drivers.

The country's wider current account surplus, which measures the flow of goods, services and investments, increased to €25.4 billion after an upwardly revised reading of €18.0 billion in August, unadjusted data showed.

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