However, business in China is collapsing: German exports are increasing surprisingly strongly

After the dip in the summer, German companies are selling more abroad again in September, especially in Europe. However, things are going much worse in China.

German exports rose surprisingly sharply in September. They climbed by two percent compared to the previous month to 141.1 billion euros, the highest since February, as the Federal Statistical Office announced.

Economists surveyed by the Reuters news agency had only expected an increase of 0.5 percent, after minus 0.4 percent in August. "Exports are resuming their upward trend. In September they were once again significantly higher than a year ago," said chief economist Alexander Krüger from Bethmann HAL Bank. "This is good news, especially since competition from China remains high." Foreign trade is likely to support economic growth for the time being, but not to drive it forward.

The increase in September is mainly due to higher demand from the member states of the European Union. Exports to the EU increased by 3.5 percent to 80.8 billion euros. Most exports to a single country once again went to the USA, although these fell by 0.5 percent to 13.4 billion euros. German business in China fell by 5.2 percent to 5.5 billion euros.

“The export figures for September are a positive surprise,” said Thomas Gitzel, chief economist at VP Bank. "They are even making up for the dip in exports from the previous two months. The dry summer played a role over the summer, among other things."

German imports rose in September by 4.2 percent compared to the previous month to 125.5 billion euros. The German trade balance - i.e. exports minus imports - showed an increase of 15.6 billion euros.