Germany Balance of Trade1950-2020 Data | 2021-2023 Forecast | Calendar | Historical

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.

The trade surplus in Germany narrowed slightly to EUR 19.4 billion in October of 2020 from EUR 21.3 billion a year earlier. Exports shrank 6.5 percent year-on-year to EUR 112 billion, the 8th straight annual decline and imports fell 5.9 percent to EUR 92.7 billion, the 10th consecutive drop. Exports to the Euro Area went down 5.1 percent and those to the UK sank 11.7 percent. Sales to the United States, which have been hit particularly hard by the coronavirus pandemic, dropped 10.5 percent while sales to China edged up 0.3 percent. Imports to the Euro Area decreased 2.9 percent and those from the UK were down 14.7 percent. Purchases from China slumped 3.3 percent, those from the US 18.8 percent and from the UK 17.6 percent. Adjusted for calendar and seasonal effects, exports were still 6.8 percent and imports 5.2 percent lower than in February of 2020, the month before restrictions were imposed due to the coronavirus pandemic.

Germany's trade surplus narrowed slightly to EUR 20.8 billion in September of 2020 from EUR 21.1 billion a year earlier. Exports were down 3.8 percent year-on-year to EUR 109.8 billion and imports declined 4.3 percent to EUR 89 billion. Exports to the Euro Area went down 4.5 percent and those to the UK sank 12.4 percent. Sales to the United States, which have been hit particularly hard by the coronavirus pandemic, dropped 5.8 percent while sales to China increased 10.6 percent. Imports to the Euro Area decreased 4.4 percent and those from the UK were down 14.7 percent. In contrast, purchases rose from China (up 3 percent) and the US (3 percent). Adjusted for calendar and seasonal effects, exports were down 7.7 percent and imports 5.7 percent compared with February of 2020, the month before restrictions were imposed due to the coronavirus pandemic.

Germany's trade surplus declined to EUR 12.8 billion in August 2020, from EUR 16.4 billion in the same month of the previous year, as the coronavirus pandemic hit global demand. Exports dropped 10.2 percent due to lower sales to the European Union (-7 percent) and to third countries (-13.6 percent), in particular the UK (-7.3 percent), the US (-21.1 percent) and China (-1.1 percent). Imports fell at a softer 7.9 percent, as purchases from the EU dropped 5.4 percent and those from third countries tumbled 10.5 percent. Among these, imports fell from the UK (-22.2 percent) and the US (-5.2 percent), while imports from China were unchanged. On a seasonally adjusted basis, exports rose 2.4 percent from a month earlier, beating expectations of 1.4 percent, while imports were up 5.8 percent, compared to forecasts of a 1.4 percent gain.