German imports posted their steepest drop in almost two years in October after a strong rise the previous month, while exports from Europe's largest economy also fell, data from the Federal Statistics Office today showed. 

Seasonally-adjusted imports declined by 3.1% on the month, undershooting a consensus forecast for a 1.5% decrease, the data showed. 

It was the sharpest fall since November 2012. 

Exports also dropped by 0.5% on the month, though that was a better reading than the 1.5% decline that a Reuters poll had forecast. 

The German trade surplus stood at €20.6 billion, up from an upwardly revised €18.6 billion in September. That compared with the consensus forecast for €18.5 billion.