After calendar and seasonal adjustment, Germany exported goods to the total value of €130.6 billion and imported goods to the value of €113.9 billion in January 2023. The calendar and seasonally adjusted surplus had been €10.0 billion in December 2022 and €12.1 billion in January 2022, Destatis said in a news release.
On a calendar and seasonally adjusted basis, Germany exported goods to the value of €71.9 billion to the member states of the European Union (EU), while it imported goods to the value of €59.6 billion from the same countries in January 2023. Compared with December 2022, calendar and seasonally adjusted exports to EU countries rose by 0.7 per cent and imports from those countries by 0.6 per cent.
The value of the goods exported to euro area countries in January 2023 totalled €50.8 billion at 0.5 per cent and the value of the goods imported from there was €40.3 billion at -1.0 per cent. In January 2023, goods to the value of €21.1 billion at 1.3 per cent were exported to EU countries not belonging to the euro area, while the value of the goods imported from those countries was €19.4 billion at 3.9 per cent, on a calendar and seasonally adjusted basis.
Exports of goods to countries outside the EU (third countries) amounted to €58.7 billion in January 2023, while imports from those countries totalled €54.2 billion on a calendar and seasonally adjusted basis. Compared with December 2022, exports to third countries increased by 3.8 per cent and imports from those countries decreased by 7.5 per cent.
Most German exports went to the US in January 2023, with goods exports up 3.1 per cent on December 2022 after seasonal and calendar adjustment. Exports to the US thus rose to €12.7 billion. Exports to China increased by 1.4 per cent to €7.7 billion and exports to the UK by 7.8 per cent to €6.1 billion.
Most imports to Germany came from China in January 2023. Goods to the value of €12.7 billion were imported from there, which was a 6.0 per cent decrease compared with the previous month, after calendar and seasonal adjustment. Imports from the US rose by 8.8 per cent to €8.3 billion. Imports from the UK rose by 13.1 per cent to €3.3 billion over the same period.
Exports to Russia increased a calendar and seasonally adjusted 12.3 per cent to €1.0 billion in January 2023 compared with December 2022 and dropped 60.0 per cent from January 2022. Imports from Russia fell 36.7 per cent to €1.0 billion in January 2023 from December 2022, added the release.
Germany exported goods to the value of €125.2 billion and imported goods to the value of €114.4 billion on a nominal basis (not adjusted for calendar or seasonal effects) in January 2023. Compared with January 2022, exports increased by 12.2 per cent and imports by 7.7 per cent in January 2023. The unadjusted foreign trade balance showed a surplus of €10.8 billion in January 2023. In January 2022, the surplus had been €5.4 billion.
ALCHEMPro News Desk (NB)
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