Germany's foreign trade balance sees surplus of $14B, below market expectations

By Gokhan Ergocun

ISTANBUL (AA) - Germany's foreign trade balance posted a surplus of €13.4 billion ($14 billion) in October, below market expectations and down from €17 billion in September.

The country's exports were at €124.6 billion in October, down 2.8% year-on-year, and imports totaled €111.2 billion, rising 1.7%, the federal statistical office Destatis said on Friday.

On a monthly basis, exports dropped 2.8% and imports fell 0.1% in October.

Germany exported €68.9 billion in goods to fellow EU member states in October, while it imported goods valued €57.9 billion from these countries.

Exports of goods to countries outside the EU (third countries) this October totaled €55.7 billion, while imports from these countries totaled €53.3 billion.

Germany's exports to Russia this October fell 9.4% from a month earlier to €0.6 billion.