German exports decline for 2nd month, trade surplus narrows

MarketsAssociated Press

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 percent over September, following a 0.4 percent decline in September over August, according to figures adjusted for calendar and seasonal variations.

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Meantime, exports rose 1.8 percent 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 percent over October 2016 to 108 billion euros, while imports rose 8.3 percent to 89.1 billion euros.

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