The steep decline significantly undershot analyst forecasts, which had projected a €16.3 billion surplus for Europe’s economic powerhouse.
Year-over-year data painted a troubling picture: shipments from the continent’s largest economy contracted 0.8% to €128.1 billion throughout November, even as purchases from abroad surged 5.4% to €115.1 billion.
Comparing month-to-month performance, outbound shipments dropped 2.5% in November, contrasted with inbound goods climbing 0.8%.
Trade within the European Union saw Germany dispatch €73.1 billion worth of goods during the period, while receiving €58.7 billion from fellow member nations.
Beyond EU borders, German exporters shipped €55.1 billion in products, yet imports from non-bloc countries hit €56.3 billion throughout November.
The United States maintained its position as Germany’s top export market, though transactions contracted 4.2% on a monthly basis to €10.8 billion. Annual comparisons revealed an alarming 22.9% collapse in US-bound shipments.
Deliveries to China expanded 3.4% month-over-month to €6.5 billion, while merchandise heading to the UK tumbled 8.1% to €6 billion.
Regarding incoming goods, China topped Germany’s import sources with €14.9 billion in November merchandise—an 8% monthly increase. The US secured second position, with imports climbing 7.9% month-on-month to €7.7 billion.
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