Germany’s exports recovered in November and imports grew at a faster pace, data published by Destatis showed Tuesday.
Exports climbed 4.1 percent on month in November, in contrast to a 0.3 percent drop registered in October. The rate also exceeded the expected rate of 1.2 percent.
At the same time, monthly growth in imports accelerated to 2.3 percent from 1.8 percent in October. Imports were forecast to climb 0.6 percent.
The trade surplus rose to a seasonally adjusted EUR 22.3 billion from around EUR 19.9 billion in October.
On a yearly basis, exports advanced 8.2 percent, faster than October’s 6.9 percent increase. Meanwhile, imports grew at a slightly slower pace of 8.3 percent after rising 8.4 percent.
On an unadjusted basis, the trade surplus increased to EUR 23.7 billion from EUR 22 billion in the previous year.
The current account surplus came in at EUR 25.4 billion versus EUR 24.9 billion a year ago.
The material has been provided by InstaForex Company – www.instaforex.com
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