Germany's foreign trade balance showed a surplus of EUR15.0 billion in September, up from EUR10.6 billion surplus recorded in August, the Federal Statistical Office said Friday. That was higher than the expected surplus of EUR13.5 billion. In September 2007, the surplus amounted to EUR18.2 billion.
Upon calendar and seasonal adjustment, the foreign trade balance recorded a surplus of EUR13.7 billion in September 2008, the statistical office said.
Exports increased 6.9% year-on-year to EUR 87.1 billion, while imports rose 14.1% to EUR 72.2 billion. On a monthly basis, the calendar and seasonally adjusted exports increased 0.7%, quicker than the 0.2% rise expected. Exports recovered from a 0.3% fall in August that was upwardly revised from a 0.5% fall initially reported.
Meanwhile, imports rose 0.9%, in contrast to a 1.3% fall predicted and a 2.7% decline recorded in August. The August decrease was revised from a 2.5% fall originally reported.
Further, the statistical office said the current account of the balance of payments showed a surplus of EUR 15.0 billion in September, up from August's revised surplus of EUR7.5 billion. Earlier, the statistical office had reported EUR7.3 billion surplus for August. Economists had expected a current account surplus of EUR10.3 billion for September.
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