German Trade Surplus Narrows in October


Germany exported commodities worth of 98.5 billion euro and imported commodities to the value of 82.7 billion euro in October 2012. After calendar and seasonal adjustment, exports increased by 0.3% and imports by 2.5% compared with September 2012 according to a report by the Federal Statistical Office.

German foreign trade balance showed a surplus of 15.8 billion euro in October 2012. In October 2011, the surplus had amounted to11.0 billion euro. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 15.2 billion euro in October 2012. 

In October 2012, Germany dispatched commodities to the value of 56.4 billion euro to the Member States of the European Union (EU), while it received commodities to the value of 51.9 billion euro from those countries. Compared with October 2011, dispatches to the EU countries increased by 7.8%, and arrivals from those countries by 5.4%. Commodities to the value of 37.0 billion euro (+7.0%) were dispatched to the Euro Area countries in October 2012, while the value of the commodities received from those countries was 35.5 billion euro (+4.8%). Commodities worth of 19.3 billion euro (+9.2%) were dispatched to EU countries not belonging to the Euro area, while the value of the commodities which arrived from those countries was 16.4 billion euro(+6.7%). Exports of commodities to countries outside the European Union (third countries) amounted to 42.1 billion euro, while imports from those countries totalled 30.8 billion euro. Compared with October 2011, exports to third countries increased by 14.6%, imports from those countries by 6.9%.
 
According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of 13.6 billion euro in October 2012, which included the balance of services (–1.9 billion euro), factor income net (+5.2 billion euro), current transfers (–3.3 billion euro), and supplementary trade items (–2.2 billion euro). In October 2011, the German current account showed a surplus of 9.9 billion euro. 

 


Destatis | Nuno Fontes | nuno@tradingeconomics.com
12/12/2012 11:04:45 AM