German Trade Balance November 2022

Merchandise exports rose 13.3% yoy in November (October: +11.4% yoy). Meanwhile, imports of goods jumped 14.8% yoy in November (October: +19.4% yoy), marking the weakest result since September 2021.

As a result, the merchandise trade balance improved from the previous month, recording a surplus of $11.1 billion in November (October 2022: surplus of $5.2 billion; November 2021: surplus of $11.3 billion). Finally, the trend was to the upside, with the 12-month lagging merchandise trade balance recording a surplus of $14.8 billion in November, compared to a surplus of $14.8 billion in October.

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