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Financial News: German Exports Rise At Faster Pace In November

German Exports Rise At Faster Pace In November

01/08/2021 - 03:16:00 (RTTNews)

(RTTNews) - Germany's exports and imports grew at faster rates in November, data published by Destatis revealed on Friday.

Exports logged a monthly growth of 2.2 percent versus a 0.9 percent rise in October. Similarly, growth in imports improved to 4.7 percent from 0.4 percent a month ago.

As growth in imports exceeded the rise in exports, the trade surplus fell to an adjusted EUR 16.4 billion from EUR 18.2 billion in October.

Year-on-year, imports decreased 1.3 percent, but slower than the 6.4 percent decline registered in October. Imports dropped 0.1 percent following a 5.8 percent fall in the previous month.

On an unadjusted basis, the trade surplus decreased to EUR 17.2 billion from EUR 18.5 billion last year.

Exports were 4.7 percent lower and imports 0.6 percent lower than in February 2020, the month before the start of the corona-related restrictions in Germany.

The current account surplus came in at EUR 21.3 billion versus EUR 23.5 billion in the same period last year.

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