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Rising German exports

December 9, 2014

An increase in geopolitical tensions has not stopped German exports from rising steadily, fresh figures for October have shown. Monthly shipments abroad even logged a new record.

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New cars being transported abroad
Image: picture alliance

For the third time this year, monthly German exports surpassed the 100 billion-euro threshold, with the figures for October showing no sign of a major impact of geopolitical crises in the Middle East or Ukraine.

In October, Germany exported goods to the tune of 103.9 billion euros ($127.9 billion), thus improving September's record of 102.5 billion euros, the National Statistics Office Destatis reported Tuesday.

In a year-on-year comparison, shipments abroad rose by 4.9 percent and imports increased by 0.9 percent from October 2013 to October 2014.

Going from strength to strength

The country's trade surplus amounted to 21.9 billion euros in October, up from 17.8 billion euros a year earlier.

Destatis noted that exports to countries outside the 28-member European Union rose by 6.6 percent, with shipments to EU member states logging a 3.9-percent increase.

The Federation of German Wholesale, Foreign Trade and Services (BGA) said it expected full-year exports to rise by 3 percent. It added it was even more optimistic about 2015 for which it penciled in a 4-percent surge in shipments abroad.

hg/cjc (Reuters, dpa)