德国11月出口下降 工业生产增长

Core Insights - Germany's exports in November 2025 reached 128.1 billion euros, marking a month-on-month decline of 2.5%, the largest drop in a year and a half, primarily due to weak demand from the US and EU [1] - Exports to the US totaled 10.8 billion euros, down 4.2% month-on-month and down 22.9% year-on-year; exports to EU countries also fell by 4.2% to 73.1 billion euros [1] - In contrast, exports to China increased by 3.4%, reaching 6.5 billion euros [1] Export and Import Data - Total imports in November amounted to 115.1 billion euros, showing a slight increase of 0.8% [1] - Imports from China were 14.9 billion euros, up 8% month-on-month; imports from the US were 7.7 billion euros, increasing by 7.9% [1] Industrial Production - Industrial production grew by 0.8%, marking the third consecutive month of growth, driven by strong performance in manufacturing, which saw an overall increase of 2.1% [1] - The automotive industry experienced significant growth of 7.8%, while mechanical engineering grew by 3.2% [1] - However, the energy sector's output declined by 7.8%, and construction output fell by 0.8% [1]