Germany's export grew at its fastest pace this year, while an unexpected decline in goods intake lifted the nation's trade surplus in September.
Exports advanced 1.7 percent month-on-month, which was the fastest increase this year and well above the expected 0.6 percent growth. The increase follows the 1 percent rise in August, data published by Destatis showed Friday.
Meanwhile, imports dropped 1.9 percent, confounding expectations for a 0.4 percent rise and reversing the 0.1 percent gain in August and the 0.2 percent growth in July.
The largest Eurozone economy came under severe criticism for relying heavily on exports to boost its economic growth. The nation was urged to increase its domestic consumption and wages for achieving higher growth.
The annual comparison also showed opposite developments for exports and imports in September. While shipments advanced 3.6 percent, imports were down by 0.3 percent.
As a result, the trade surplus increased to a seasonally adjusted EUR 18.9 billion in September from EUR 15.8 billion in August. In the same period of last year, the trade surplus totaled EUR 16.5 billion.
On an unadjusted basis, the foreign trade balance showed a record surplus of EUR 20.4 billion in September, up sharply from EUR 13.3 billion in August. Additionally, the current account surplus rose to EUR 19.7 billion from EUR 10.1 billion.
German exports to the member states of the European Union grew 5.4 percent annually, and imports from these countries gained 2.6 percent.
Exports to euro area countries increased 4.4 percent in September, while imports from these countries climbed 1.8 percent. Goods sent to EU countries not belonging to the Euro area grew 7.2 percent and the value of the goods which arrived from these countries rose 4.4 percent.
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