By Maximilian Clarke
German exports have increased, jumping to a year-on-year increase of 8.3%, the country’s official statistics body has confirmed.
The growth will offer some respite to the Euro area, following a GDP slowdown in towards the end of 2011.
Germany exported commodities to the value of Euro 94.9 billion and imported commodities to the value of Euro 78.7 billion in November 2011. As further reported by the Federal Statistical Office (Destatis) on the basis of provisional data, German exports increased by 8.3% and imports by 6.7% in November 2011 on November 2010.
Upon calendar and seasonal adjustment, exports and imports showed opposite month-on-month developments: while exports increased by 2.5% on October 2011, imports decreased by 0.4%.
The foreign trade balance showed a surplus of Euro 16.2 billion in November 2011. In November 2010, the surplus had amounted to Euro 13.9 billion. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of Euro 15.1 billion in November 2011.
According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of Euro 14.3 billion in November 2011, which included the balance of services (— Euro 0.1 billion), factor income net (+ Euro 4.1 billion), current transfers (— Euro 3.6 billion), and supplementary trade items (— Euro 2.3 billion). In November 2010, the German current account had shown a surplus of Euro 14.4 billion.
In November 2011, Germany dispatched commodities to the value of Euro 56.0 billion to the Member States of the European Union (EU), while it received commodities to the value of Euro 50.6 billion from those countries. Compared with November 2010, dispatches to the EU countries increased by 8.4% and arrivals from those countries by 10.6%. Commodities to the value of Euro 37.7 billion (+7.7%) were dispatched to the Euro area countries in November 2011, while the value of the commodities received from those countries was Euro 35.1 billion (+8.8%). In November 2011, commodities to the value of Euro 18.3 billion (+9.8%) were dispatched to EU countries not belonging to the Euro area, while the value of the commodities which arrived from those countries was Euro 15.5 billion (+15.1%).
Exports of commodities to countries outside the European Union (third countries) amounted to Euro 38.9 billion in November 2011, while imports from those countries totalled Euro 28.0 billion. Compared with November 2010, exports to third countries increased by 8.2% and imports from those countries by 0.2%.
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