Federal Statistical Office reported on Thursday that Germany’s trade surplus
increased by 47.0 per cent to
EUR19.7 billion in November 2024 compared to a revised surplus of EUR13.4 billion in October 2024. This marked the first improvement in trade surplus in three months.
Economists had forecast a surplus of EUR14.8 billion
for November.
According to the report, exports from Germany surged
by 2.1 per cent m-o-m to EUR127.3 billion in November, while imports declined by 3.3 per cent
m-o-m to EUR107.6 billion, the lowest level since June 2024 (EUR107.3 billion).
Compared to November 2023, Germany’s exports fell by
3.5 per cent and its imports dropped by 2.9 per cent.