Germany's trade surplus narrowed in October to €14.2 billion from €16.8 billion in September due to a rise in imports, according to the latest official data.
The value of German imports came to €72.6 billion, up 0.3% from September, the federal statistics office said. Exports, the backbone of Europe's top economy, sank 1.1% on a monthly basis to €86.8 billion.
The rise in imports coincided with a pick-up in domestic consumption, traditionally the Achilles' heel of the German economy. A year-on-year comparison revealed a 19.8% expansion in exports and an even stronger 21% boost in imports.
Germany's 26 fellow European Union members, the country's most important trade partners, imported €52.9 billion from Germany in October, marking a 14.9% rise over one year ago. The value of imports from these countries grew 18.3% in the same period to €47 billion.
Germany sold goods worth €33.9 billion to countries outside the European Union, up 28.4%, while imports from EU members reached €25.6 billion, a rise of 26.4%.
