Germany's trade surplus at 4-month low in September

By Tuba Ongun

Germany's foreign trade surplus hit a 4-month low of €16.5 billion ($17.5 billion) in September, according to official data released on Friday.

The figure fell from €17.7 billion in August, but surged from €5 billion in September 2022, the Federal Statistical Office (Destatis) said.

The country's exports declined 7.5% year-on-year to €126.5 billion in September, the lowest since March 2022.

Its imports also plunged 16.6% to a 2-year low of €110 billion.

Compared to a month ago, exports and imports fell by 2.4% and 1.7%, respectively.

German shipments to non-EU countries amounted to €56.7 billion, while its imports were €51.3 billion.

Most German exports in September went to the US, worth €12.8 billion, a decrease of 4% from a month earlier.

Exports to China dove 7.3% month-on-month to €7.7 billion, while to the UK rose by 2.3% to €6.3 billion.

Germany's main source of imports was China with €13 billion, marking a decline of 0.9% from August.

Its inbound shipments from the US rose 0.5% to €7.7 billion, and from the UK grew by 5.2% to €3.2 billion during the same period.

Exports to Russia, meanwhile, plunged 11.2% from a month ago to €600 million, and plummeted 41.7% from a year ago.

Imports from Russia totaled €200 million, decreasing 7.5% on a monthly basis and 89.4% on an annual basis.