German trade surplus widens in October as drop in imports outpaces slight decline in exports

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German exports slipped slightly in October but its trade surplus widened as imports fell even more rapidly.

The Federal Statistical Office reported Tuesday that exports were down 0.5 percent while imports fell 3.1 percent over September in seasonally and calendar adjusted figures. That widened the trade surplus about 2 billion euros ($2.5 billion) to 20.6 billion euros.

In unadjusted terms, the Statistical Office says Germany exported 103.9 billion euros of goods in October, exceeding the former record high of 102.5 billion euros set in September.

ING economist Carsten Brzeski says the figures show more evidence of Germany's economic rebound and that euro's recent decline has helped Europe's largest economy.

Looking ahead, Brzeski says "a weaker euro is probably the best thing that could happen to both Germany and the eurozone."