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German trade surplus declines in the month of October on import growth

FRANKFURT--Germany's trade surplus contracted in October as imports grew faster than exports, falling to 16.8 billion euros in October from 18.7 billion euros in September, official data showed on Monday.

In seasonally adjusted terms, Germany exported goods worth 92.9 billion euros (US$127 billion) in October, up only fractionally from 92.7 billion euros in September, the federal statistics office Destatis said in a statement.

Imports, on the other hand, rose by a much stronger 2.8 percent to 76.1 billion euros from 74.0 billion euros.

That meant the seasonally adjusted trade surplus — the balance between imports and exports — declined.

In unadjusted terms, the trade surplus also declined, to 17.9 billion euros in October from 20.3 billion euros in September, as imports grew faster than exports, Destatis said.

Exports to the euro area slipped by 0.1 percent on a 12-months basis in October, while exports to the European Union as a whole were up 2.1 percent. Exports to the rest of the world contracted by 1.3 percent, the statisticians said.

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