Germany’s exports grew at a slower pace in October, data from Destatis revealed Wednesday.
Exports increased 0.8 percent month-on-month in October, slower than the 2.3 percent increase seen in September. Shipments were forecast to climb 1.2 percent.
At the same time, imports gained 0.3 percent, following a 0.2 percent rise in September. This was also slower than the economists forecast of +1 percent.
The trade surplus rose to a seasonally adjusted EUR 18.2 billion from EUR 17.6 billion in the previous month. The expected level was EUR 18 billion.
Exports were by 6.8 percent and imports by 5.2 percent lower than in February 2020, the month before restrictions were imposed due to the corona pandemic in Germany.
On a yearly basis, the decline in exports deepened to 6.5 percent from 3.8 percent.
Likewise, imports fell 5.9 percent annually after falling 4 percent in the previous month.
The trade surplus totaled an unadjusted EUR 19.4 billion compared to EUR 21.3 billion in the same period last year.
The current account surplus climbed to EUR 22.5 billion from EUR 19 billion in the previous year.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.