Exports to the EU dropped by 0.7 per cent to €68.9 billion in October 2024, with imports rising 0.4 per cent to €57.9 billion. Trade with non-EU countries showed steeper declines, with exports down 5.3 per cent to €55.7 billion.
The US remained the top export market but saw a sharp 14.2 per cent decline to €12.2 billion. Exports to China fell 3.8 per cent, while those to the UK rose 2.1 per cent. China continued as Germany’s largest import partner, despite a 3.0 per cent fall to €13.7 billion. Imports from Russia grew 27.4 per cent month-on-month but remained down year-on-year.
In October 2024, Germany’s calendar and seasonally adjusted exports of goods totalled €124.6 billion, reflecting a decline of 2.8 per cent compared to both the previous month and October 2023.
Imports reached €111.2 billion, marking a slight dip of 0.1 per cent from the prior month but a 1.7 per cent increase YoY.
The adjusted foreign trade balance showed a surplus of €13.4 billion for the month.
Unadjusted figures showed a trade surplus of €14.7 billion, lower than €19.0 billion in October 2023.
Fibre2Fashion News Desk (RKS)
