Germany: Merchandise exports gain steam in November
Merchandise exports soared 14.0% in annual terms in November (October: +11.4% year-on-year). Meanwhile, merchandise imports jumped 15.5% on an annual basis in November (October: +19.4% yoy), marking the weakest result since September 2021.
As a result, the merchandise trade balance improved from the previous month, recording a EUR 11.3 billion surplus in November (October 2022: EUR 5.2 billion surplus; November 2021: EUR 11.3 billion surplus). Lastly, the trend was stable, with the 12-month trailing merchandise trade balance recording a EUR 76.1 billion surplus in November, compared to the EUR 76.1 billion surplus in October.