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Exports rise lifts German surplus

German economy - Exports up in October
German economy - Exports up in October

New figures show that the German trade surplus climbed to €13.6 billion in October.

In September, the biggest European economy and one of the world's leading exporters had posted a surplus of €10.4 billion.

German exports gained 2.5% from September to €74.6 billion, the Destatis statistics service said.

Germany has begun to rebound from its worst recession since World War II, thanks in part to renewed foreign demand for the country's industrial goods and chemicals.

Destatis also cited German central bank figures which showed the current account of the balance of payments had a surplus of €11 billion in October. The current account is an overall measure of all current payments into and out of a country or region.

Exports to other EU members in October came to €46.6 billion, a decrease of 16.5% from the same month a year earlier, while imports fell by 11.9% to €40.6 billion, the data showed. Exports to other countries fell by 14.9% to €28 billion, while imports were off by 21.4% to €20.4 billion.

Inflation returns to Germany

Separate figures showed that inflation is slowly regaining a foothold in Germany. The annual inflation rate in November was 0.4%, the Federal Statistics Office said, the first time it has been positive since June 2009.

The rate was revised slightly higher from the 0.3% preliminary figure published in late November. Falling energy prices are still keeping a lid on inflation in Germany, however, with prices for household gas nearly a fifth of their price a year ago during the oil price spike. If energy were stripped out of the calculation, inflation in Germany would be 0.7%, the statistics office said.