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©Reuters. FILE PHOTO: A crane lifts a shipping container at the HHLA Container Terminal Altenwerder on the Elbe River in Hamburg, Germany, March 31, 2023. REUTERS/Phil Noble/File Photo
BERLIN (Reuters) -German exports fell more than expected in September, data from the federal statistics agency showed on Friday, as weak global demand hurt the country’s exports.
German exports fell by 2.4% in September compared to the previous month. The result compared with a predicted decline of 1.1% in an LSEG poll.
Exports to European Union countries fell 2.1% this month and exports to countries outside the EU fell 2.8%, with sharp declines in exports to the US and China.
The data showed that imports also fell unexpectedly by 1.7% this month. They were forecast to rise by 0.5%.
The foreign trade balance showed a surplus of 16.5 billion euros ($17.54 billion) in September, compared to an upwardly adjusted surplus of 17.7 billion euros the month before.