Germany's exports in October increased by 0.1% to reach 131.3 billion euros.

Germany's Foreign Trade Figures

The Federal Statistical Office of Germany (Destatis) has shared the foreign trade figures for October 2023 with the public. According to the announced data, Germany's seasonally and calendar-adjusted exports reached 131.3 billion euros in October, showing a 0.1% increase compared to the previous month.

Export Growth Exceeds Expectations

Exports, which showed a 1.5% increase in September, were expected to decrease by 0.5% in October 2023. However, the slight increase observed in October is related to the rise in trade with EU countries.

Key Trading Partners

Exports to China, one of Germany's largest trading partners, decreased by 5.8% in October, dropping to 6.3 billion euros. In the same period, exports to the USA fell by 7.8% to 11.3 billion euros.

Increase in Demand from EU Countries

On the other hand, Germany's exports to EU member countries increased by 2.7% to 76.3 billion euros in October, showing a positive trend. Exports to non-EU countries also rose by 3.1%, reaching 23.3 billion euros.

Trade Surplus and Import Data

Germany's imports in October decreased by 1.2% compared to the previous month, falling to 114.5 billion euros. As a result, the seasonally and calendar-adjusted trade surplus reached approximately 16.9 billion euros. Considering that this figure was recorded as 14.6 billion euros in October 2024, the current numbers are noteworthy.

Annual Export Growth and Challenges

It was emphasized that exports in October showed a 4.2% increase on an annual basis. However, German exporters expressed that they are facing challenges due to increasing tariffs from the USA, growing competition from China in the global market, and the strong euro.