First Posted: 12/9/2013
(AP) Germany’s trade surplus narrowed in October as import growth outstripped that of exports, a traditional mainstay of Europe’s biggest economy.
The Federal Statistical Office said Monday that the country’s foreign trade surplus totaled 16.8 billion euros ($23 billion), compared with 18.8 billion euros a month earlier.
German exports were up 0.2 percent from September in seasonally and calendar-adjusted terms at 92.9 billion euros. Economists had predicted a 0.5 percent decline.
Still, there was a sharper increase in imports, which rose 2.9 percent to 76.1 billion euros after falling the previous month.
Critics argue that Germany’s large trade surplus has been causing problems for struggling partners in the 17-nation eurozone. The United States recently urged Germany to push for more domestic-led growth.