In November 2025, exports and imports of goods recorded nominal year-on-year changes of -1.7% and -7.9%, respectively (-5.8% and -2.9%, in the same order, in October 2025). However, when transactions without transfer of ownership (TTE) are excluded, the contraction in exports was more pronounced (-6.2%; -3.6% in October) while the decrease in imports was less marked (-2.8%; -3.4% in October). The trade deficit in goods reached EUR 1,991 million, reflecting a reduction of EUR 629 million compared to November 2024. Excluding TTE, the trade deficit worsened by EUR 167 million.

In November 2025, unit value indices (prices) remained negative for exports (-0.5%) and imports (-1.8%). These variations compare with -1.4% and -1.8%, respectively, in October 2025 and -1.5% in both flows in November 2024.