Germany's trade surplus narrowed to EUR 18.3 billion in November 2019 from EUR 20.2 billion in the same month the previous year, as exports fell 2.9 percent on the back of lower sales to both the EU (-2.4 percent) and non-EU countries (-3.5 percent). Meanwhile, imports declined at a softer 1.6 percent as purchases from the EU dropped 1.4 percent and those from third countries fell 1.8 percent. On a seasonally adjusted basis, the trade surplus was also down to EUR 18.3 billion from a marginally revised EUR 20.4 billion in October and below market consensus of EUR 20 billion. Exports dropped 2.3 percent, much worse than expectations of a 0.5 percent fall; while imports declined 0.5 percent, missing forecasts of a 0.2 percent growth. Balance of Trade in Germany averaged 5399.37 EUR Million from 1950 until 2019, reaching an all time high of 25455.63 EUR Million in March of 2016 and a record low of -535.91 EUR Million in April of 1991. source: Federal Statistical Office
Balance of Trade in Germany is expected to be 23000.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Germany to stand at 9400.00 in 12 months time. In the long-term, the Germany Balance of Trade is projected to trend around 4600.00 EUR Million in 2020, according to our econometric models.
Germany Balance of Trade
Germany runs regular trade surpluses since 1952, primarily due to strong exports of vehicles and other machinery. In 2017, the largest trade surpluses were recorded with the US, the UK, France, Austria, Spain, Sweden and the UAE; while the biggest trade deficits were recorded with China, Vietnam, Norway, Russia, the Netherlands, Ireland and Czech Republic.