German exports in October 2023 experienced a marginal decline of 0.2 per cent; imports saw a more significant drop of 1.2 per cent compared with September 2023, according to the Federal Statistical Office (Destatis).
The data, adjusted for calendar and seasonal variations, highlighted a substantial year-over-year (YoY) decrease. Exports and imports fell by 8.1 per cent and 16.3 per cent, respectively, compared to October 2022.
Trade within the European Union (EU) showed a decline, with exports to EU member states totalling €67.9 billion and imports at €56.9 billion. Both figures represent a decrease from September 2023.