Such exports increased by 0.1 per cent year on year (YoY) and imports fell by 3.1 per cent YoY in the month.

After calendar and seasonal adjustment, Germany exported goods worth €131.9 billion ($144.6 billion) and imported goods to the value of €109.4 billion ($119.94 billion) in August.

The foreign trade balance showed a surplus of €22.5 billion ($24.67 billion) in the month. The calendar-and seasonally-adjusted surplus stood at €16.9 billion in July this year and €18.9 billion in August 2023.

On a calendar and seasonally adjusted basis, Germany exported goods worth €72.7 billion to member states of the European Union (EU) in August, while it imported goods worth €57.4 billion from these countries in that month.

Calendar- and seasonally-adjusted exports to EU countries rose by 0.8 per cent MoM and imports from these countries decreased by 3.7 per cent MoM in August.

The value of the goods exported to euro area countries in August totalled €50.6 billion (plus 0.6 per cent), and the value of the goods imported from these countries was €37.5 billion (minus 7.2 per cent).

Goods to the value of €22 billion (plus 1.4 per cent) were exported to EU countries not belonging to the euro area in August, while the value of the goods imported from these countries was €19.9 billion (plus 3.7 per cent) on a calendar- and seasonally-adjusted basis.

Exports of goods to countries outside the EU (third countries) amounted to €59.2 billion in August, while imports from these countries totalled €52 billion on a calendar- and seasonally-adjusted basis. Exports to third countries increased by 1.9 per cent MoM and imports from those countries fell by 3.2 per cent MoM during the month.

Most German exports in August went to the United States. After seasonal and calendar adjustment, exports of goods to the United States were up by 5.5 per cent MoM in the month, with the value of such exports rising to €13.5 billion.

Exports to China increased by 1.9 per cent MoM to €7.4 billion and exports to the United Kingdom rose by 5.7 per cent MoM to €6.8 billion.

Most imports in August came from China in the month, worth €13.2 billion, which represented a 1.4 per cent MoM decrease after calendar and seasonal adjustment. Imports from the United States rose by 0.7 per cent MoM to €7.8 billion. Imports from the United Kingdom dropped by 0.1 per cent MoM to €2.9 billion during the month.

After seasonal and calendar adjustment, Germany’s exports to Russia decreased by 9.5 per cent MoM and 11.8 per cent YoY to €0.6 billion in August. Imports from Russia dropped by 29.1 per cent MoM and 41.4 per cent YoY to €0.1 billion in the month.

Fibre2Fashion News Desk (DS)