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Germany’s November Factory Output Rises Again as Exports Drop and Trade Surplus Narrows

Stronger auto‑led production met weaker external demand, pushing the surplus to its lowest since December 2022.

Overview

  • Industrial production rose 0.8% month over month in November, the third straight increase, with October revised up to a 2.0% gain.
  • The auto sector jumped 7.8% and machinery rose 3.2%, while energy output fell 7.8%; manufacturing excluding energy and construction grew 2.1%.
  • Exports fell 2.5% to €128.1 billion and imports rose 0.8% to €115.1 billion, leaving a seasonally adjusted trade surplus of €13.1 billion.
  • Sales to the United States and the European Union declined 4.2% from October, exports to China rose 3.4%, and imports from China increased 8.0% to €14.9 billion as China reemerged as Germany’s top trading partner in 2025.
  • Industrial orders climbed 5.6% in November, boosted by large contracts, and officials note a late‑year uptrend in production despite foreign demand and geopolitical trade risks limiting a broader recovery.