Germany witnessed a considerable rebound in exports during November while imports saw an unexpected decline, according to data released by Destatis on Thursday.
Exports experienced a monthly growth of 2.1%, following a 2.9% drop seen in October. This surpassed forecasts which had predicted a 2.0% increase in shipments.
Conversely, imports registered a steeper decline, falling 3.3%, compared to a 0.3% decrease in October. This contradicted economists’ expectations which had anticipated a 0.7% growth in imports.
As a result, the trade surplus expanded significantly, reaching EUR 19.7 billion in November, up from EUR 13.4 billion in the previous month.
Year-on-year, exports fell by an unadjusted 6.5%, reversing the 0.4% gain noted previously. Similarly, imports dropped by 5.2%, following a prior rise of 4.3%. The unadjusted trade balance revealed a surplus of EUR 20.4 billion, compared with a EUR 23.4 billion surplus during the same period of the preceding year.
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