BERLIN: Germany’s trade surplus in September was lower than expected, as surging imports outstripped exports, a sign that the weakness in emerging markets is forcing the economy away from its long-time reliance on exports.
The trade surplus, adjusted for seasonal swings and calendar effects, narrowed to 19.4 billion euros ($20.9 billion) in September from a revised EUR19.7 billion in August, the Federal Statistical Office said Monday. Economists polled by The Wall Street Journal had forecast a surplus of EUR20 billion.
In a sign of solid domestic demand, Germany’s imports in September surged 3.6% from August, and the adjusted value of total imports, at EUR80.9 billion, was the highest since records began in 1991.
Exports recovered too, albeit less than imports. They increased 2.6% on the month, after suffering their steepest drop in almost seven years in August.
Germany’s current account balance, a broad measure of an economy’s international financial position, showed a surplus of EUR25.1 billion in September, on an unadjusted basis. That was above economists’ forecasts of EUR21.9 billion.
