Skip to content
Magazine
Sunday, August 3, 2025
SUBSCRIBE
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
SUBSCRIBE

German exports rise slightly in October

Shiva Singh by Shiva Singh
10 December 2020
in Belgium Business And Economy News
Headquarters of The Federal Statistical Office in Wiesbaden , Germany - Destatis is a federal authority of Germany

Headquarters of The Federal Statistical Office in Wiesbaden , Germany - Destatis is a federal authority of Germany

Brussels (Brussels Morning) German Federal Statistical Office records show that exports rose 0.8% month-on-month in October, less than expected but providing hope that the country’s economy can avoid a double-dip scenario, Reuters reported yesterday, Wednesday.

The growth in October is lower compared to 2.3-percent growth in September, with imports rising 0.3% following growth of 0.2% the month before.

Exports to China grew 0.3% in October compared to October last year, with exports to the UK down 11.7% and those to the US down 10.5%.

Economists’ predictions

Economists who took part in a Reuters poll predicted growth of exports of 1.2% and rise of imports of 1%. They expected Germany’s trade surplus would stand at 18 billion euro, which is about 200 million off the actual figure of some 18.2 billion.

ING Research economist Carsten Brzeski points out that “despite the October slowing, the export sector remains one of the few hopes of the German economy to avoid a significant contraction in the fourth quarter.” Longer-term outlook is very mixed, he added, which indicates the sector will struggle to return to levels from before the coronavirus crisis.

Growth of exports in October is in line with records released on Monday that show industrial output grew that month. This suggests Germany’s manufacturing sector focus on exports helped the economy get a good start in the final quarter. Despite the coronavirus lockdown measures, high-frequency data and surveys point towards solid industrial production in November.

The restrictions hit the services sector severely, forcing large parts of the sector to remain closed since 2 November and lowering expectations of GDP growth in the last three months of the year. According to predictions, the German economy will stagnate or contract in the final quarter.

Compared to the second quarter this year, the German economy grew 8.5% in the third quarter, following a drop of 9.8% in the wake of the first wave of the coronavirus pandemic. The Government has increased the deficit to put in place emergency economic measures aimed at helping consumers and companies.

Related News:

  • German exports exceeded pre-crisis levels in October
  • Asian, and Middle Eastern diesel exports to the EU rise
  • Pandemic sees German exports down more than 12% this year
  • French and German arms exports grow sharply in five years
Tags: News
Next Post
Nuclear power plant Temelin in Czech Republic Europe

Czech nuclear power plant tender delayed over security issues

Latest post

EU-elections-UK

EU elections: UK looks on from the “outside”

1 year ago
Galeries-Royales-Saint-Hubert

What Makes Galeries Royales Saint-Hubert an “Institution”?

1 year ago

Most Read

    Follow Brussels Morning
    Facebook Twitter Youtube Linkedin

    Browse Important News

    Belgium News
    Brussels News
    Culture and Society News
    Economy News
    EU Institutions News
    European Commission News
    European Council News
    European Parliament News
    Europe News
    Health And Fitness News
    Southeast Europe News
    Sustainable Perspective
    World News
    Diplomacy News
    US Elections News

    About Us

    Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

    More Info

    • About Us
    • Advertise With Us
    • Contact Us
    • Cookies Policy

    Join Our Newsletter

    Brussels Morning Newspaper – All Rights Reserved © 2024

    No Result
    View All Result
    • Home
    • About Us
    • Belgium News
      • Belgium Police News
      • Brussels News
    • Brussels Bubble
      • European Parliament News
      • European Commission News
      • European Council News
    • Wider Europe
      • Member States
    • World News
    • Business & Society
    • Europe With Transparency
    • Culture & Society
    • Policy Talks
      • Place de la Bourse
      • The Macro-Economist
      • Sustainable Perspective
      • Ambassador’s Corner
      • The American Angle
      • Southeast Europe
    • Print Magazine

    Brussels Morning Newspaper - All Rights Reserved © 2020

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Cookie settingsACCEPT
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT