BERLIN (Reuters) -German exports fell more than expected on the month in September, federal statistics office data showed on Friday, as weak global demand hurt the country’s exports.
German exports fell 2.4% in September from the previous month. The result compared with a forecast 1.1% decline in a LSEG poll.
Exports to European Union countries fell 2.1% on the month and exports to countries outside the EU fell 2.8%, with sharp declines in exports to the U.S. and China.
Imports also unexpectedly fell by 1.7% on the month, the data showed. They had been forecast to increase by 0.5%.
The foreign trade balance showed a surplus of 16.5 billion euros ($17.54 billion) in September, versus an upwardly revised surplus of 17.7 billion euros the previous month.