FXstreet.com (Barcelona) - Surplus on Germany's goods and services trade with the rest of the world has narrowed in November as both exports and imports decreased, according to data released by German Statistics.
Germany's foreign trade balance has posted a EUR10.7 billion surplus in November, in seasonally adjusted terms, unadjusted, German trade surplus totalled EUR9.7 billion. November's surplus has dropped in the last 12 months from the EUR19.4 billion posted in the same month on the previous year.
Exports have declined 10.6% from October, while imports decreased 5.6%; year on year, exports decreased 11.8% and imports were 0.9% below the level posted in November 2007.
German current account of the balance of payments has posted a EUR8.6 billion surplus in November, from which the balance of services posted a EUR 0.4 billion deficit, net factor income posted EUR4.2 billion surplus, current transfers gave a EUR 3.7 billion deficit, and suplementary trade items posted a EUR1.2 billion deficit.