Data published by the Federal Statistical Office (Destatis) showed that in October, the volume of German exports increased by 4.1% compared to September, to 121.3 billion euro, while imports increased by 5.0% to 108.5 billion euro. In annual terms, exports increased by 8.1%, while imports increased by 17.3%. Meanwhile, compared to February 2020 (before the outbreak of the pandemic in Germany), exports increased by 3.8%, and imports increased by 13.5%.
Germany's trade surplus shrank to 12.8 billion in October. euros from 16.0 billion euro in September (revised from 16.2 billion euro). In October 2020, the surplus was 19.7 billion euro.
The data also showed that in October, the balance of payments surplus fell to 15.4 billion euro compared to 20.0 billion euro in September (revised from 19.6 billion euro). In October 2020, the surplus was 24.4 billion euro.
Destatis also reported that in October, Germany's exports of goods from the European Union countries increased by 11.6% per annum, to 66.7 billion euros, while imports of goods from these countries increased by 14.6% per annum, to 57.6 billion euros. Exports of goods to countries outside the European Union increased by 4.1% per annum, to 54.6 billion euros, and imports from these countries increased by 20.4% per annum, to 51.0 billion euros.