Merchandise exports rose 2.2% month-on-month on a calendar- and seasonally-adjusted basis in November, up from October’s 0.8%. Import growth, meanwhile, accelerated to 4.7% mom in November, up from 0.3% mom in the prior month. That said, the calendar- and seasonally-adjusted trade surplus narrowed to EUR 16.4 billion from EUR 18.2 bn in October.
On an annual basis, merchandise exports dropped 1.3%, which was up from October’s 6.5% plunge. Imports contracted a marginal 0.1% compared to the same month a year prior, up from the 5.9% drop in October. Lastly, the trend pointed down with the 12-month rolling average sum of the trade balance inching down to EUR 181.1 billion in November from EUR 183.4 billion in October.