Link Securities| Germany’s central bank, the Bundesbank, yesterday published that Germany’s current account surplus reached €28.1 billion in September compared to €12.5 billion in the same month last year. The goods surplus increased to €22.5bn from €11.1bn in September 2022, as imports fell by 18.6% and exports by a noticeably smaller 9.2%.
For its part, the primary income surplus increased to €15.8 billion from €12.4 billion in the same month a year ago, while the services deficit narrowed to €6.1 billion from €6.5 billion in September 2022. In turn, the secondary income deficit narrowed to €4.0 billion from €4.5 billion in the same month a year ago.
In 9M2023 Germany’s current account surplus widened to EUR 198.5 billion from EUR 114.2 billion in the same time period last year.