Germany Trade Balance November 2020


Germany: Merchandise exports grow at a quicker pace in November

January 8, 2021

Merchandise exports rose 2.2% month-on-month on a calendar- and seasonally-adjusted basis in November, up from October’s 0.8%. Import growth, meanwhile, accelerated to 4.7% mom in November, up from 0.3% mom in the prior month. That said, the calendar- and seasonally-adjusted trade surplus narrowed to EUR 16.4 billion from EUR 18.2 bn in October.

On an annual basis, merchandise exports dropped 1.3%, which was up from October’s 6.5% plunge. Imports contracted a marginal 0.1% compared to the same month a year prior, up from the 5.9% drop in October. Lastly, the trend pointed down with the 12-month rolling average sum of the trade balance inching down to EUR 181.1 billion in November from EUR 183.4 billion in October.


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Germany Trade Balance Chart

Germany Trade12m November 20 20

Note: 12-month sum of trade balance in EUR billion and annual variation of the 12-month sum of exports and imports in %.
Source: Federal Statistics Office (Destatis).

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