German exports up 1.9 pct, imports down 0.6 pct in October

Source: Xinhua| 2019-12-09 22:39:43|Editor: Mu Xuequan
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BERLIN, Dec. 9 (Xinhua) -- German exports in October increased by 1.9 percent year on year while imports decreased by 0.6 percent compared to October of last year, the Federal Statistical Office (Destatis) revealed on Monday.

In October, Germany exported goods worth 119.5 billion euros (132.2 billion U.S. dollars) and imported goods for 98 billion euros, according to Destatis. Compared to the previous month, German exports were up 1.2 percent and imports remained nearly unchanged.

International German exports of goods to countries outside the European Union even increased by 4.6 percent. At the same time, imports from those countries were down 1 percent compared to last year, according to Destatis.

German exports to China increased by 2.6 percent between January and October while imports from China even went up 3.7 percent to 91 billion euros, according to provisional data by Germany's central bank Bundesbank.

Despite the ongoing trade disputes, German exports to the United States increased by 6 percent to more than 100 billion euros between January and October. Imports from the U.S. to Germany increased by more than 10 percent to almost 60 billion euros.

At the same time, Germany's large trade surplus only decreased slightly to 190.1 billion euros in the first 10 months of 2019. Including financial transactions and services, Germany's total account balance had even increased from 200.1 billion euros to 212.6 billion euros.

German exports to EU countries only increased by 0.1 percent, while imports from those countries were down 0.2 percent year-on-year, Destatis data showed.