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German trade surplus narrows in October

English.news.cn   2013-12-09 21:35:22            

BERLIN, Dec. 9 (Xinhua) -- German trade surplus narrowed in October, as imports grew at a higher rate than exports, official data showed on Monday.

Compared with the previous month, exports expanded by 0.2 percent in October, while imports grew by 2.9 percent, the German Federal Statistical Office said.

Adjusted for calendar and seasonal variations, foreign trade recorded a surplus of 16.8 billion euros (23 billion U.S. dollars) in October, after a surplus of 18.7 billion euros a month earlier.

In October, Germany dispatched goods worth of 57.3 billion euros to other European Union member states, while receiving goods to the value of 53.3 billion euros. Exports to the eurozone decreased by 0.1 percent to the value of 36.6 billion euros, while imports from those countries increased by 3.4 percent to 36.6 billion euros.

Critics argue that Germany's high trade surplus was not helpful for their recovery. Germans should purchase more in order to support its neighbous, they said.

Domestic demand is considered as the current main driving force for growth in the Europe's largest economy, which expanded by 0.3 percent in the third quarter, following a growth of 0.7 percent in the second and a stagnation in the first three months.

German central bank Deutsche Bank last week forecast the economy would grow by 0.5 percent in 2013 and by 1.7 percent in 2014.

Editor: Shen Qing
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