Exports were down by 1 per cent YoY in 2024, while imports saw a decline of 2.8 per cent YoY. The country exported goods worth €131.7 billion (~$135.8 billion) and imported goods worth €111.1 billion (~$114.6 billion) in December 2024. The foreign trade balance thus showed a surplus of €20.7 billion in the month.
The trade surplus stood at €19.2 billion in November last year and €21.1 billion in December 2023.
All such data released by Destatis recently are adjusted for calendar and seasonal variations.
Germany exported goods worth €72.4 billion to the member states of the European Union (EU) in December 2024, while it imported goods to the value of €57 billion from these countries in the month.
Exports to the EU countries rose by 5.9 per cent MoM and imports from these countries increased by 3.6 per cent MoM in December 2024.
The value of the goods exported to euro area countries totalled €50.6 billion (plus 6.7 per cent MoM), and the value of the goods imported from these countries was €37.3 billion euros (plus 4 per cent MoM).
Goods worth €21.8 billion (plus 3.9 per cent MoM) were exported to EU countries not belonging to the euro area, while the value of the goods imported from such countries was €19.7 billion (plus 2.9 per cent MoM).
Exports of goods to countries outside the EU (third countries) amounted to €59.3 billion in December 2024 and imports from such countries totalled €54.1 billion. Exports to such countries declined by 0.5 per cent MoM and imports from there rose by 0.5 per cent MoM in the month.
Most German exports in December last year went to the United States. Exports of goods to the United States were down by 3.5 per cent MoM, dropping to €13.5 billion.
Exports to China increased by 1.4 per cent MoM to €6.7 billion, while exports to the United Kingdom fell by 6.6 per cent MoM to €6.7 billion in December last year.
Most imports in the month came from China. Goods worth €13.4 billion were imported from there, which represented a 1-per cent MoM decrease. Imports from the United States rose by 3 per cent MoM to €7.5 billion. Imports from the United Kingdom dropped by 3 per cent to €3 billion during the month.
Exports to the Russia declined by 19.9 per cent MoM to €0.6 billion in in the month and dropped by 17.1 per cent YoY from December 2023. Imports from Russia rose by 14.4 per cent MoM to €0.1 billion in the month and down by 33.4 per cent YoY.
ALCHEMPro News Desk (DS)
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