Germany's Exports Decline More Than Expected

According to federal statistical office data, in October 2024, Germany's exports decreased by 2.8% and imports by 0.1%, seasonally and calendar adjusted, compared to September 2024. Economists had expected a 2% annual decline. Based on preliminary results from the Federal Statistical Office (Destatis), exports also fell by 2.8% compared to October 2023, while imports increased by 1.7%. In total, Germany exported goods worth 124.6 billion euros in October 2024, adjusted for calendar and seasonal effects, while importing goods worth 111.2 billion euros. The trade balance recorded a surplus of 13.4 billion euros in October 2024. In September 2024, the seasonally and calendar adjusted trade balance was +16.9 billion euros, while in October 2023, it was +18.9 billion euros.