Melanie Debono of Penson Macro pointed out in the report that the expansion of Germany's trade surplus was mainly supported by demand from partners within the EU. According to the data, Germany's seasonally adjusted nominal commodity trade surplus rose to 16.9 billion euros in October, up from 15.3 billion euros the previous month, and also exceeded market expectations of 15.9 billion euros. Although exports to non-EU countries fell by 3.3%, exports to EU member states increased by 2.7%. Meanwhile, the decline in imports is mainly due to a decrease in demand for goods from non-EU countries. “We believe that overall net exports, including goods and services, will support GDP this quarter,” Debono said, pointing out that the German economy is expected to resume growth in the fourth quarter after stagnating in the third quarter.

Melanie Debono of Penson Macro pointed out in the report that the expansion of Germany's trade surplus was mainly supported by demand from partners within the EU. According to the data, Germany's seasonally adjusted nominal commodity trade surplus rose to 16.9 billion euros in October, up from 15.3 billion euros the previous month, and also exceeded market expectations of 15.9 billion euros. Although exports to non-EU countries fell by 3.3%, exports to EU member states increased by 2.7%. Meanwhile, the decline in imports is mainly due to a decrease in demand for goods from non-EU countries. “We believe that overall net exports, including goods and services, will support GDP this quarter,” Debono said, pointing out that the German economy is expected to resume growth in the fourth quarter after stagnating in the third quarter.