German sales to US fall as global exports stagnate

Germany's exports to the United States shrank significantly in October, according to official data released on Tuesday.

Adjusted for calendar and seasonal effects, goods worth €11.3 billion ($13.2 billion) were sent to the US, 7.8% less than in September, according to the Federal Statistical Office in Wiesbaden.

Overall, German exports in October grew only minimally by 0.1% compared to the previous month, while imports fell by 1.2%.

"Foreign trade is still too weak to provide a positive impetus for the German economy," wrote Michael Herzum, head of economics at fund provider Union Investment.

German exporters were, however, able to record growth in Europe. Exports to the EU grew by 2.7% in October compared to the previous month, to just over €76 billion.

Exports to the important Chinese market, on the other hand, shrank by 5.8% to €6.3 billion.

In August, German exports to the US fell to their lowest level since November 2011.

German exporters are suffering from the increased US tariffs under President Donald Trump, tough competition from China on the global markets and the strong euro, which is making German goods more expensive on the global markets.

The US and EU reached an agreement in principle in the trade dispute in the summer, averting an escalation.

However, the agreement stipulated significant tariff increases for many products - including cars, which are a key product for the German economy.