German exports rose more than expected in November

On Monday, data from the Federal Statistical Office revealed that German exports exceeded expectations in November, experiencing a robust increase driven by heightened demand within the European Union.

German exports surged by an impressive 3.7 percent in November compared to the previous month, surpassing the 0.3 percent increase forecasted in a Reuters poll. Importantly, the Federal Statistics Office reported a 1.9 percent rise in imports compared to October, significantly exceeding analysts’ expectations of a 0.2 percent increase.

Notably, exports to European Union countries witnessed a substantial increase of 5.4 percent compared to the previous month, while exports to countries outside the bloc also rose by 1.8 percent.

The foreign trade balance reflected a surplus of 20.4 billion euros ($22.3 billion) in November, a notable increase from the 17.7 billion euros reported in the previous month. This data suggests a positive trajectory for German trade, driven by robust export performance and strong demand from both European and non-European markets.