Germany's foreign trade balance reveals surplus of USD22.3B

(MENAFN) In November, Germany's foreign trade balance revealed a surplus of €20.4 billion (USD22.3 billion), as reported by the country's federal statistical bureau Destatis on Monday.

In spite of a year-on-year decrease of 5 percent, German exports amounted to €131.2 billion, while imports experienced a more significant 12.2 percent decline, reaching €110.8 billion.

Although both exports and imports exhibited annual declines, there were month-on-month increases of 3.7 percent and 1.9 percent, respectively.

It’s worth mentioning that Germany's exports to EU countries in November reached €71.5 billion, with EU imports to Germany totaling €58.9 billion. Meanwhile, German exports to non-EU countries amounted to €59.7 billion, and non-EU imports to Germany stood at €51.9 billion.

Examining specific trade relations, exports to Russia in November were recorded at €700 million, reflecting a 12.8 percent month-on-month increase but a substantial 38.3 percent decline on a yearly basis.

On the other hand, imports from Russia to Germany totaled €200 million, experiencing both monthly and yearly declines of 14 percent and 88.4 percent, respectively.

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