German exports beat forecasts with small rise in Oct on EU boost

(Sharecast News) - German exports rose in October against expectations of a fall as trade with European Union partners provided a boost, according to official data published on Tuesday. Exports rose by 0.1% month on month, federal statistics ‌office said. Economists had been expecting a 0.5% fall. Imports were down 1.2% on a calendar and seasonally adjusted basis.

The foreign trade balance showed ‌a surplus of €16.9bn in October, up from €15.3bn in the previous month and €14.6bn a year ago.

Exports to EU countries rose by 2.7% month on month, while exports of goods to countries outside the 27-member bloc were down 3.3%.

Exports ‍to the US decreased by 7.8% month-on-month while exports to China decreased 5.8%.

Reporting by Frank Prenesti for Sharecast.com