Germany's exports declined for the second month in a row, as the global demand continued to be damped by high inflation and supply chain disruptions, and the biggest euro area economy is near recession. Yet, the trade surplus increased notably due to the sharp decrease in imports.
Shipments logged a monthly drop of 0.6 percent, following September's 0.7 percent decrease, Destatis reported Friday. The pace of decline was double than the expected 0.3 percent fall.
At the same time, the monthly decrease in imports deepened to 3.7 percent from 2.2 percent. This was also bigger than economists' forecast for a 0.4 percent fall.
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by Renju Jaya
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