By Nina Adam 
 

FRANKFURT--Germany's trade surplus with the rest of the world narrowed in October, as a strong rise in imports from September outstripped a more modest gain in exports.

The Federal Statistical Office said Monday that total exports of goods--not goods and services--rose 0.7% in October from the month before, taking into account seasonal swings and calendar effects. German imports of goods rose 1.3%.

As a consequence, Germany's adjusted trade surplus narrowed to 17.3 billion euros ($19.8 billion) from EUR17.7 billion in September. The outcome fell short of a consensus forecast of EUR18.1 billion and a surplus of EUR20.4 billion in October last year.

Ratings company DBRS warned Monday that "Germany's export-oriented industrial sector--well integrated into global value chains--could disproportionately suffer from a weaker external backdrop or new tariffs."

Nevertheless, domestic demand continues to underpin growth in Europe's largest economy, according to DBRS.

 

Write to Nina Adam at nina.adam@wsj.com

 

(END) Dow Jones Newswires

December 10, 2018 02:53 ET (07:53 GMT)

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