Germany’s exports fell by 2.8 per cent in October 2024 compared to both September 2024 and October 2023, reaching €124.6 billion (seasonally adjusted), while imports slightly dipped by 0.1 per cent from September but rose 1.7 per cent year-on-year to €111.2 billion. The adjusted trade surplus declined to €13.4 billion, down from €16.9 billion in September, according to the provisional data released by the Federal Statistical Office (Destatis).
Exports to the EU dropped by 0.7 per cent to €68.9 billion in October 2024, with imports rising 0.4 per cent to €57.9 billion. Trade with non-EU countries showed steeper declines, with exports down 5.3 per cent to €55.7 billion.
The US remained the top export market but saw a sharp 14.2 per cent decline to €12.2 billion. Exports to China fell 3.8 per cent, while those to the UK rose 2.1 per cent. China continued as Germany’s largest import partner, despite a 3.0 per cent fall to €13.7 billion. Imports from Russia grew 27.4 per cent month-on-month but remained down year-on-year.
Unadjusted figures showed a trade surplus of €14.7 billion, lower than €19.0 billion in October 2023.
