Economy 2 min read By Callum Montgomery
German exports rise 2% in September, beating forecasts as trade surplus narrows
Germany's exports grew 2% month on month in September, ahead of analyst expectations, while the trade surplus shrank, according to federal statistics office figures.
German exports rose 2% month on month in September, beating analyst forecasts and offering a modest lift to Europe's largest economy. The figures, published by Destatis, the federal statistics office, show that the export gain was partly driven by demand from countries outside the European Union.
The same data showed Germany's trade surplus narrowing over the month. Imports also moved, and their change helped shape the smaller gap between what the country sells abroad and what it buys. The combination means the headline export figure tells only part of the story about the health of Germany's trade position.
Exports to the United States remained a central focus for analysts, given the importance of the American market to German manufacturers. Demand from China, by contrast, continues to weigh on the sector, with weak Chinese purchasing still a drag on the country's industrial producers.
The industrial sector also remains under strain from high energy costs, a pressure that has hung over German manufacturing for some time. Against that backdrop, the September rise stands out, but economists are cautious about reading too much into a single month of data.
Many economists view the gain as a possible one-off rebound rather than the start of a sustained recovery in foreign sales. The outlook for the coming months remains uncertain, with the trajectory of demand from key trading partners and the cost of energy likely to determine whether export growth can be maintained.
Source: investing.com
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