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German exports unexpectedly drop in October

Published 12/04/2023, 02:46 AM
Updated 12/04/2023, 02:51 AM
© Reuters. FILE PHOTO: Containers are seen at a terminal in the port of Hamburg, Germany November 14, 2019. REUTERS/Fabian Bimmer/File Photo

BERLIN (Reuters) - German exports unexpectedly fell in October, edging down 0.2% on the previous month as demand in the European Union slumped, data from the federal statistics office showed on Monday.

The result compared with a forecast 1.1% increase in a LSEG poll, following a strong 2.5% fall in September.

Exports to EU countries shrank by 2.7% in October, the office said.

The trade data follows a November survey by the Ifo economic institute that indicated a stabilisation in exports in Europe's largest economy, although few sectors expected exports to increase.

Imports from Europe's largest economy also dropped unexpectedly in their fifth consecutive monthly decline, by 1.2% month on month.

The statistics office publishes detailed economic data on its website.

Latest comments

unexpectedly....? large orders have dropped so whats next...? ofcourse a drop in export
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