German exports fell more than expected in October, down -2.8% MoM (vs -2.0% MoM) and -2.8% YoY.

• Imports only fell -0.1% MoM and were up 1.7% YoY. Exports within the EU were down -0.7% MoM while exports outside the EU crashed -5.3% MoM.
• Despite most exports going to the US in the month, the value of goods exports to the US was down -14.2% MoM.