Germany Balance of Trade1950-2020 Data | 2021-2022 Forecast | Calendar | Historical

The US and most euro zone bond yields rose on Monday, as investors anticipated further steps from policymakers to soften the economic blow of the coronavirus pandemic. Traders weighed efforts to reopen economies against concerns over the possibility of a second wave of COVID-19 that could lead to future lockdowns.

Germany's trade surplus narrowed to EUR 17.4 billion in March 2020 from EUR 22.3 billion in the same month of the previous year, as exports plunged 7.9 percent due to lower sales to the European Union (-11.0 percent), of which the Eurozone (-14.0 percent). In addition, sales to third countries dropped 4.3 percent, in particular to the UK (-9.0 percent). Imports dropped 4.5 percent, as purchases from the EU plunged 8.0 percent, in particular from the Euro area (-7.8 percent). Imports from third countries also fell 0.1 percent, especially from the UK (-14.6 percent). On a seasonally adjusted basis, the trade surplus narrowed sharply to EUR 12.8 billion, missing market consensus of EUR 18.9 billion, with exports and imports falling by 11.8 percent and 5.1 percent, respectively.

Germany's trade surplus widened to EUR 20.8 billion in February 2020, the largest since October, from EUR 17.8 billion in the same month of the previous year. Exports went up 0.4 percent led by sales to EU countries outside the Eurozone (6.2 percent). Meanwhile, exports to the bloc fell 1.3 percent and those to third countries edged down 0.1 percent, due to lower sales to China (-8.9 percent). Imports dropped 2.9 percent, as purchases from the bloc plunged 3.3 percent, while those from EU countries outside the Eurozone rose 1.3 percent. Imports from third countries dropped 4.1 percent mostly on the back of a 12 percent tumble in purchases from China. On a seasonally adjusted basis, the trade surplus widened to EUR 21.6 billion, beating market consensus of EUR 17.5 billion.

Germany's trade surplus narrowed to EUR 13.9 billion in January 2020 from EUR 14.5 billion in the same month of the previous year. This was the smallest trade surplus since January 2016, as exports dropped 2.1 percent led by lower sales to third countries (-2.0 percent), in particular to China (-6.5 percent). Also, there was a decline in exports to the UK (-16.3 percent) and the EU (-2.2 percent), of which the Eurozone (-1.8 percent) and non-Eurozone countries (-2.9 percent). Imports dropped at a softer 1.8 percent, as purchases from the EU fell 2.5 percent due to a 5.4 percent plunge in imports from the Eurozone. Meanwhile, imports from non-Eurozone countries rose 3.0 percent and purchases from the UK jumped 14.5 percent. Imports from third countries dropped by 0.9 percent led by lower purchases from China (-0.5 percent). On a seasonally adjusted basis, the trade surplus narrowed to EUR 18.5 billion from a revised EUR 19.0 billion, still beating consensus of EUR 15.4 billion.