Germany Balance of Trade1950-2021 Data | 2022-2023 Forecast | Calendar | Historical

The Germany trade surplus narrowed slightly to €18.1 billion in February of 2021 from €20.3 billion a year earlier. Exports declined 1.2 percent year-on-year to €107.8 billion while imports rose 0.9 percent to €89.7 billion. Sales to the EU countries edged down 0.3 percent, of which those to the Euro Area declined 0.9 percent. Imports from the EU rose 0.9 percent, mainly due to countries outside the Euro Area (3.7 percent) while those from the Eurozone fell 0.6 percent. Shipments to third countries were down 2.3 percent, namely to the US (-0.6 percent) while those to China surged (25.7 percent). Imports from third countries were up 1.1 percent, namely from China (32.5 percent) while those from the US sank 12.6 percent.

Germany's trade surplus increased slightly to €14.3 billion in January of 2021 from €13.7 billion a year earlier. Exports sank 8 percent year-on-year to €98.1 billion, the biggest drop since August and imports decreased 9.8 percent to €83.8 billion, also the lowest value since August. Sales to the EU countries dropped 6 percent, of which those to the Euro Area countries declined 6.5 percent and imports from the EU went down 5.9 percent, of which purchases from the Euro Area fell 7.4 percent. Shipments to third countries plunged 10.3 percent, namely those to China (-29 percent) and imports from those countries by 13.9 percent, namely those from China (-56.2 percent). After calendar and seasonal adjustment, exports were 3.3 percent and imports 5.2 percent lower than in February 2020, the month before restrictions were imposed due to the coronavirus pandemic in Germany.

German trade surplus was little changed at €14.8 billion in December of 2020 from €15.1 billion a year earlier. Exports jumped 2.7 percent to €100.7 billion, mainly boosted by sales to China (11.6%) and to the US (8.4%) which was the 1st increase in German exports to the US since February. Imports rose at a faster 3.5 percent to €85.9 billion. Adjusted for calendar and seasonal effects, exports were 4.6 percent and imports 0.1 percent lower than in February of 2020, the month before restrictions were imposed due to the coronavirus pandemic. Considering full 2020, exports declined 9.3% to €1205 billion and imports 7.1% to €1026 billion, thus narrowing the trade gap to €179.1 billion from €224 billion in 2019. It is largest year-on-year decreases in both exports and imports since the financial and economic crisis in 2009. The majority of German goods were exported to the US in 2020 although sales were down 12.5%. Most imports came from China and purchases rose 5.6%.

The trade surplus in Germany narrowed slightly once again to EUR 17.2 billion in November of 2020 from EUR 18.5 billion a year earlier. Exports decreased 1.3 percent to EUR 111.7 billion, the 9th straight annual decline and imports edged down 0.1 percent to EUR 94.6 billion. Sales to the EU declined 1.7 percent and those to the Euro Area were down 2.2 percent. Shipments to China increased 14.3 percent while those to the US fell 3.1 percent. Imports from the EU went up 2.6 percent and those from China 5.4 percent while purchases from the US fell 1.5 percent. Adjusted for calendar and seasonal effects, exports were still 4.7 percent and imports 0.6 percent lower than in February of 2020, the month before restrictions were imposed due to the coronavirus pandemic.