German exports rise by 20.3% YoY, imports by 30.7% in Sept 2022

After calendar and seasonal adjustment, Germany exported goods to the total value of €134.5 billion and imported goods to the value of €130.8 billion in the month.

The foreign trade balance thus showed a surplus of €3.7 billion in September.

On a calendar- and seasonally-adjusted basis, Germany exported goods worth €73.4 billion to the member states of the European Union (EU), while it imported goods worth €64.3 billion from those countries in September.

Compared with August this year, calendar- and seasonally-adjusted exports to the EU countries dropped by 1.7 per cent and imports from those countries by 1.2 per cent.

The value of the goods exported to euro area countries totalled €51.5 billion (minus 1.6 per cent) and the value of the goods imported from there was €44.3 billion (minus 0.6 per cent).

Goods worth €21.9 billion (minus 1.9 per cent) were exported to EU countries not belonging to the euro area, while the value of the goods imported from those countries was €20.1 billion euros (minus 2.5 per cent).

Exports of goods to countries outside the EU (third countries) amounted to €61.1 billion in September, while imports from those countries totalled €66.5 billion on a calendar- and seasonally-adjusted basis.

Compared with August this year, exports to third countries increased by 1 per cent and imports from those countries fell by 3.4 per cent.

Most German exports went to the United States in September. Exports to China decreased by 2 per cent to €8.9 billion and exports to the United Kingdom fell by 0.3 per cent to €6.1 billion.

Most imports came from China in September. Goods to the value of €16.7 billion were imported from there, which was a 5.4 per cent increase compared with the previous month, after calendar and seasonal adjustment.

Imports from the United States were down by 1.3 per cent to €8.1 billion. Imports from the United Kingdom increased by 3.7 per cent to €3.5 billion in the same month.

Exports to Russia declined a calendar -and seasonally-adjusted 5.4 per cent to €1 billion in September compared with August and dropped by 52.6 per cent from September 2021. Imports from Russia fell by 33.1 per cent to €1.8 billion in September over the August figure.

ALCHEMPro News Desk (DS)