Germany's current account surplus rises in November

Germany's current account surplus rose to €15.1 billion in November, a €0.3 billion increase from October.

This was primarily due to a swing in 'invisible' performance transactions from a €1.4 billion deficit to a €2.4 billion surplus, offsetting a €3.5 billion reduction in the goods trade surplus to €12.7 billion.

The services deficit decreased by €3.8 billion, mainly due to lower travel expenses.

Net primary income also expanded by €1.4 billion to €14.8 billion, driven by higher foreign dividend and investment fund earnings.

However, the secondary income deficit widened by €1.4 billion to €7.7 billion due to increased government payments to the EU.

Germany recorded net capital exports of €36.7 billion in November, reversing October's net capital imports of €30.2 billion.

Direct investments saw net capital imports of €1.1 billion, driven by foreign companies providing €9.2 billion in funds to German affiliates, largely through equity.

Meanwhile, German firms increased their direct investments abroad by €8.1 billion.

Cross-border securities transactions resulted in net capital imports of €28.4 billion, as foreign investors acquired €32.2 billion in domestic securities, primarily bonds and money market papers.

Other capital transactions showed significant net exports of €64.4 billion, mainly from monetary financial institutions and the private sector, while Bundesbank accounts registered net inflows of €11.0 billion.