Mubasher: Germany’s trade surplus shrank in October, as imports grew faster than exports on which trade feuds between the US and both China and the European Union (EU) weighed.

Trade surplus contracted to EUR 17.3 billion ($19.75 billion) in October, compared with EUR 17.7 billion in September, the Federal Statistics Office (Destatis) said on Monday.

Seasonally adjusted exports rose by 0.7% to EUR 117.2 billion in October, compared with EUR 109.2 billion in the prior month.

Meanwhile, imports in Europe’s largest economy climbed 1.3% to EUR 98.9 billion, from EUR 90.9 billion.

Export-dependent manufacturers in Germany were caught in the conflict over tariffs between the US and both China and the EU.

By 8:49 am GMT, the EUR/USD pair rose 0.29% to $1.1412.