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Financial News: Germany Exports, Imports Fall In November

Germany Exports, Imports Fall In November

01/09/2020 - 02:50:00 (RTTNews)

(RTTNews) - Germany's exports declined for the first time in three months in November, figures from Destatis revealed Thursday.

Exports dropped by more-than-expected 2.3 percent on month, reversing a 1.5 percent rise in October. Exports were forecast to fall 0.9 percent.

At the same time, imports fell 0.5 percent, offsetting a 0.5 percent rise in the previous month and in contrast to a 0.2 percent rise economists had forecast.

The trade surplus fell to a seasonally adjusted EUR 18.3 billion from EUR 20.4 billion in October.

On a yearly basis, exports slid 2.9 percent and imports decreased 1.6 percent. Consequently, the trade surplus decreased to an unadjusted EUR 18.3 billion from EUR 20.2 billion last year.

The current account of the balance of payments showed a surplus of EUR 24.9 billion compared to a EUR 23.6 billion surplus last year.

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