German foreign trade surplus narrows in November

German foreign trade balance came in at a surplus of EUR 18.3 billion in November, narrowing from the surplus of EUR 20.2 billion seen in November 2018. On a seasonally adjusted basis, the surplus came in at EUR 18.3 billion.

Provisional results released by the Deutsche Bundesbank showed that the current account of the balance of payments indicated a surplus of EUR 24.9 billion, which takes into account the balances of trade in goods including supplementary trade items, services, primary income and secondary income. In November 2018, the German current account indicated a surplus of EUR 23.6 billion.

On a year-on-year basis, the exports of goods to the EU nations dropped 2.4 percent, while the imports from those nations fell 1.4 percent. Goods to the value of EUR 41.8 billion were exported to the euro area nations in November 2019, while the value of goods imported from those nations were EUR 34.2 billion.

Exports of goods to nations outside the EU dropped 3.5 percent year-on-year, whereas imports from those nations fell 1.8 percent.