FRANKFURT, Germany, Dec 13, 2024 (BSS/AFP) - German exports fell more than expected in October as demand from the United States slowed sharply, official data showed Friday, in more bad news for Europe's biggest economy.

Exports slipped 2.8 percent on the previous month and stood at 124.6 billion euros ($130.3 billion), according to figures from federal statistics agency Destatis.

Analysts surveyed by financial data firm FactSet had been expecting a decline of two percent.
 
Exports to the United States, the top destination for "made in Germany" goods", plunged 14.2 percent to 12.2 billion euros.

To China, which was Germany's top trading partner in 2023, exports were down 3.8 percent to 6.9 billion euros.

Exports to other European Union countries also fell but by a more modest 0.7 percent, according to Destatis.

Germany imported 111.2 billion euros of goods in October, down 0.1 percent on a month earlier, with its trade surplus coming in at 13.4 billion euros.

Weak demand for Germany's crucial exports has been a key driver of a drawn-out slowdown in Europe's biggest economy, which has also faced high inflation and a host of other deep-rooted challenges.

Germany was the only major advanced economy to shrink last year and is on course to contract again in 2024, with most analysts predicting a modest recovery in 2025.