German exports fell more than expected in October, an indication that the long-awaited recovery in external demand has been delayed.
Exports fell by 2.8% compared with the previous month, data from the federal statistics office showed today.
The result went beyond the 2% decrease forecast in a Reuters poll.
The foreign trade balance showed a surplus of €13.4 billion in October, down from €16.9 billion the previous month and €18.9 billion in October 2023.
Exports to EU countries dropped by 0.7% on the month and exports to third countries declined by 5.3%, data from the statistics office showed.
Most German exports in October went to the US, although exports of goods to the US were down 14.2% compared with September.
Exports to China decreased by 3.8% on the month and exports to the UK rose by 2.1%, the statistics office said.
