German exports decline for the second month in a row

The German Statistics Office said today that German exports declined for the second month in a row as seasonally adjusted exports fell 0.7% to 112.3 billion euros in September, and imports rose 0.1% to 99.2 billion euros in September. Annual trade data showed that German exports to the UK fell 10% to 5.7 billion euros, and imports from Britain fell 20% to 2.3 billion euros.

Year-on-year German exports to China fell 0.2% to 8.5 billion euros while exports to the United States increased year-on-year by 16.2% to 10.8 billion euros, and the trade surplus stabilized at 13.2 billion euros in September which is much lower than it was before the pandemic.