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Financial News: Germany Exports Growth Eases In November

Germany Exports Growth Eases In November

01/07/2022 - 05:27:00 (RTTNews)

(RTTNews) - Germany's exports grew at a slower pace in November, data released by Destatis showed on Friday.

Exports increased 1.7 percent on a monthly basis in November, slower than the 4.2 percent increase seen in October. Nonetheless, this was in contrast to the expected fall of 0.2 percent. Likewise, imports growth eased to 3.3 percent from 5.2 percent in the previous month. Economists had forecast a monthly drop of 1.7 percent.

The trade surplus fell to a seasonally adjusted EUR 10.9 billion from EUR 12.4 billion a month ago. The surplus was well below the expected level of EUR 12.8 billion.

On a yearly basis, exports logged a double-digit growth of 12.1 percent after rising 8.2 percent. Similarly, imports advanced 19.3 percent following a 17.4 percent rise in October.

As a result, the trade surplus came in at an unadjusted EUR 12.0 billion compared to a EUR 16.8 billion surplus last year.

The current account balance showed a surplus of EUR 18.9 billion versus EUR 21.7 billion surplus seen in the same period last year.

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