German exports rise more than expected in September
- Alexander Krueger, chief economist at Bethmann HAL Bank, said the figures bode well for Germany's economy overall, showing some resilience to competition from China
German exports unexpectedly rose 2% in September, driven by EU demand, while imports also increased significantly. This suggests some economic resilience, though not a primary growth driver.
- Unexpected September surge in German exports and imports.
- European Union demand driving Germany's export growth.
- Expert insights on Germany's economic resilience and outlook.
German exports rose more than expected in September by 2% compared with the previous month, driven mainly by demand from European Union countries, data, opens new tab from the federal statistics office showed on Monday.
Analysts polled by Reuters had forecast a 0.5% increase, following two consecutive drops in August and July.
Alexander Krueger, chief economist at Bethmann HAL Bank, said the figures bode well for Germany’s economy overall, showing some resilience to competition from China.
“Foreign trade is likely to underpin economic growth for the time being, but not drive it,” he said.
For the country’s imports, a month-on-month gain of 4.2% surpassed expectations of 0.5%.