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German trade surplus grows in November

Germany port
Europe   The latest surplus was the biggest since June

Germany's merchandise trade surplus grew in November to its biggest level in five months as imports fell unexpectedly, and exports decreased.


The non-adjusted trade surplus grew to EUR 20.5 billion from EUR 18.9 billion in October, preliminary data from the Federal Statistical Office showed on Wednesday. Economists had expected a surplus of EUR 18.6 billion.

The latest surplus was the biggest since June, when the figure was EUR 22 billion.

On a seasonally and calendar adjusted basis, the trade surplus increased to EUR 19 billion from EUR 17.9 billion in October. That was also the biggest since June.

In November, the decline in imports outstripped the fall in exports.

Imports decreased a seasonally adjusted 1.6% from the previous month after a 0.8% increase in October. Economists had expected imports to remain unchanged.

On a non-adjusted basis, imports rose 3.6% year-on-year after a 10.8% surge in October.

Exports fell a seasonally and calendar adjusted 0.4% month-on-month following a 0.9% rise in October. Economists had forecast a 0.5% decline. The latest fall was the biggest in four months.

Non-adjusted exports were unchanged from the same month last year after and 8.7% increase in October.

 

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