Trade Surplus of 20.4 Billion Euros in November 2023
According to the Federal Statistical Office (Destatis), exports in November 2023 increased by 3.7 percent compared to the previous month. However, compared to the same month of the previous year, exports decreased by 5.0 percent.
Imports increased by 1.9 percent compared to the previous month but decreased by 12.2 percent compared to the same month of the previous year.
In November 2023, German exports amounted to a total of 131.2 billion euros, while imports reached a value of 110.8 billion euros. This resulted in a positive trade surplus of 20.4 billion euros.
Within the EU
Destatis reports that in November 2023, goods worth 71.5 billion euros were exported to EU member states, while the value of imports from these states amounted to 58.9 billion euros. Compared to the previous month, exports increased by 5.4 percent, and imports increased by 2.8 percent.
The value of exports to Eurozone countries was 50.3 billion euros in November 2023, representing an increase of 5.3 percent. Imports from Eurozone countries amounted to 39.2 billion euros, indicating a rise of 2.4 percent.
For EU countries outside the Eurozone, exports in November 2023 amounted to 21.2 billion euros, showing an increase of 5.9 percent. Imports from EU countries excluding the Eurozone amounted to 19.7 billion euros, with an increase of 3.6 percent.
Outside the EU
According to Destatis, in November 2023, goods worth 59.7 billion euros were exported from Germany to non-EU countries, and goods worth 51.9 billion euros were imported from these countries. Compared to October 2023, there was an increase of 1.8 percent in exports and 0.8 percent in imports.
Most German exports in November 2023 went to the USA, although there was a 1.4 percent decrease in exports compared to the previous month. Exports to China increased by 3.1 percent, and those to the United Kingdom increased by 15.2 percent.
In November 2023, the majority of imports came from China, increasing by 3.1 percent compared to the previous month. Imports from the United States increased by 3.0 percent, and those from the United Kingdom increased by 6.3 percent.
Exports to Russia in November 2023 increased by 12.8 percent compared to October 2023, reaching 0.7 billion euros. Imports from Russia during the same period decreased by 14.0 percent to 0.2 billion euros.
Source: www.kloepfel-consulting.com