Germany's November imports drop 3.3%, year-to-date fall 3.5%

Imports to Germany fell by 3.3% month-over-month in November 2024, dropping to a five-month low of EUR 107.6 billion, well below market expectations of a 0.7% increase.

Germany's November imports drop 3.3%, year-to-date fall 3.5%

This follows a revised 0.3% decline in October. Purchases from third countries saw a significant decrease of 2.1%, with substantial drops from China (-3.1%), the US (-3.7%), the UK (-4.7%), and Russia (-24.1%). Imports from the European Union also dropped by 4.4%, driven by a 5.2% decline in imports from the Euro area and a 2.7% fall from the non-Euro area.

Germany's imports fall 3.5% in January-November 2024

For the first eleven months of 2024, imports decreased by 3.5% compared to the same period in 2023, totaling EUR 1.2 trillion, reflecting ongoing subdued demand amid global economic uncertainties.