German trade surplus widens as imports fall more than exports

German imports and exports both fell in September, but the slide in goods from overseas outpaced the dip in goods being sold overseas, leading to a widening of the country's trade surplus.

Imports fell 1% month-on-month in September after two-consecutive months of increases - a 0.8% rise in August. Analysts had expected a dip in imports, but only by 0.3%.

Exports fell at a slower rate of 0.4% after a 2% rise in August. The dip was not as bad as the 1.1% fall forecast, however.

This left the trade balance at a surplus of €21.8bn in September, up from August's €21.3bn.

Market reaction

There was little reaction on equity markets, which had been marginally lower from the start of trade. By late morning trade in Europe, the German Dax was down 0.14% at 13,363.50.

The euro was up 0.09% against the dollar to $1.1605.