Fall in German exports and imports highlights global trade tension
German exports and imports fell in November, another sign that Europe’s largest economy may be feeling the effects of a complicated trade environment.
Exports fell 0.4 per cent month on month, according to the Federal Statistics Office, This was slightly deeper than the 0.3 per cent forecast in a Reuters poll of economists. Imports fell by 1.6 per cent.
While exports within the country increased, trade fell outside of the EU and eurozone. The metrics, which are consistent or improved from this time last year, add to the mixed bag of news as economists assess the health of the eurozone.
Germany exports were worth €116.3bn in November. Of that total, €68.1bn was exported within the EU, a 0.3 per cent increase from the same month last year. However, exports to countries outside of The EU were valued at €48.2 billion, a 0.4 per cent decline from last November, while imports from those countries increased by 4.3 per cent.
Total imports were valued at €97.7bn, leading to a trade surplus of €19bn on a calendar and seasonally adjusted basis.