Exports in the month decreased by 4.4 per cent year on year (YoY) and imports fell by 6.4 per cent YoY, the Federal Statistical Office (Destatis) reported.

After calendar and seasonal adjustment, Germany exported goods worth €127.7 billion and imported goods worth €107.3 billion in June.

The foreign trade balance showed a surplus of €20.4 billion in the month.

The calendar- and seasonally-adjusted surplus stood at €25.3 billion in May 2024 and €19 billion in June.

On a calendar- and seasonally-adjusted basis, Germany exported goods worth €69.7 billion to the member states of the European Union (EU) in June, while it imported goods worth €56.3 billion from these countries in that month.

Calendar- and seasonally-adjusted exports to EU countries fell by 3.4 per cent MoM, while imports from these countries rose by 1 per cent MoM in June.

The value of the goods exported to euro area countries in June this year totalled €48.5 billion and the value of the goods imported from these countries was worth $37 billion.

In June, goods worth €21.3 billion were exported to EU countries not belonging to the euro area, while the value of the goods imported from these countries was €19.3 billion, on a calendar and seasonally adjusted basis.

Exports of goods to countries outside the EU (third countries) amounted to €57.9 billion in June, while imports from these countries totalled €51.0 billion, on a calendar and seasonally adjusted basis.

Exports to third countries declined by 3.5 per cent MoM and imports from those countries dropped by 0.4 per cent MoM in June, a Destatis release said.

Most German exports in June were to the United States. After seasonal and calendar adjustment, exports of goods to the United States were down by 7.7 per cent MoM, with the value of such exports dropping to €12.9 billion.

Exports to China increased to €7.9 billion, while exports to the United Kingdom fell to €6.5 billion.

Most imports in June came from China. Goods to the value of €12.3 billion were imported from there—a 4.9-per cent decrease MoM after calendar and seasonal adjustment.

Imports from the United States declined by 6.5 per cent MoM to €7.4 billion. Imports from the United Kingdom increased by 11.1 per cent MoM to €3.1 billion in the month.

Exports to Russia declined by a calendar- and seasonally-adjusted 3.2 per cent MoM to €0.6 billion in June. Such exports fell by 22.2 per cent YoY in the month. Imports from Russia dropped by 1.5 per cent MoM and by 44.8 per cent YoY to €0.2 billion in June.

Fibre2Fashion News Desk (DS)