German exports decline for 2nd month, trade surplus narrows

BERLIN - German exports dropped in October for the second straight month while imports grew, narrowing the trade surplus of Europe's largest economy.

The Federal Statistical Agency said Friday October exports dropped 0.4 per cent over September, following a 0.4 per cent decline in September over August, according to figures adjusted for calendar and seasonal variations.

Meantime, exports rose 1.8 per cent in October, narrowing the adjusted trade surplus to 19.8 billion euros from September's 21.9 billion euros.

In unadjusted figures, exports rose 6.8 per cent over October 2016 to 108 billion euros, while imports rose 8.3 per cent to 89.1 billion euros.

Exports were up 8.7 per cent to EU member states and 4.1 per cent to non-EU countries compared to October 2016. Imports from the EU were up 10.1 per cent and up 11.9 per cent from non-EU nations.

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