Pic: Shutterstock/ weerasak saeku
After calendar and seasonal adjustment, Germany exported goods to the total value of €136.7 billion and imported goods to the value of €120.7 billion in February 2023. The foreign trade balance showed a surplus of €16.0 billion in February 2023. The calendar and seasonally adjusted surplus of the foreign trade balance had also been €16.0 billion in January 2023, in February 2022 it had totalled €10.7 billion, according to provisional data by the Federal Statistical Office (Destatis).
On a calendar and seasonally adjusted basis, Germany exported goods to the value of €73.9 billion to the member states of the European Union (EU), while it imported goods to the value of €62.8 billion from the same countries in February 2023. Compared with January 2023, calendar and seasonally adjusted exports to EU countries rose by 2.0 per cent and imports from those countries by 5.1 per cent.
The value of the goods exported to euro area countries in February 2023 totalled €52.2 billion at 1.6 per cent and the value of the goods imported from there was €41.7 billion at 3.3 per cent. In February 2023, goods to the value of €21.7 billion—2.9 per cent—were exported to EU countries not belonging to the euro area, while the value of the goods imported from those countries was €21.1 billion at 8.8 per cent, on a calendar and seasonally adjusted basis.
Exports of goods to countries outside the EU (third countries) amounted to €62.8 billion in February 2023, while imports from those countries totalled €57.9 billion on a calendar and seasonally adjusted basis. Compared with January 2023, exports to third countries increased by 6.6 per cent and imports from those countries by 4.0 per cent, Destatis said.
Most German exports went to the US in February 2023, with goods exports up 9.4 per cent on January 2023 after seasonal and calendar adjustment. Exports to the US thus rose to €14.0 billion. Exports to China increased by 10.2 per cent to €8.5 billion and exports to the UK by 2.5 per cent to €6.3 billion.
Most imports came from China in February 2023. Goods to the value of €13.6 billion were imported from there, which was a 6.7 per cent increase compared with the previous month, after calendar and seasonal adjustment. Imports from the US were down 8.7 per cent to €7.6 billion. Imports from the UK dropped by 4.0 per cent to €3.1 billion in the same period.
Exports to Russia declined a calendar and seasonally adjusted 14.3 per cent to €0.9 billion in February 2023 compared with January 2023 and dropped 59.9 per cent from February 2022. Imports from Russia fell 67.2 per cent to €0.3 billion in February 2023 from January 2023.
Germany exported goods to the value of €132.3 billion and imported goods to the value of €115.4 billion on a nominal basis (not adjusted for calendar or seasonal effects) in February 2023. Compared with February 2022, exports increased by 6.3 per cent and imports by 2.6 per cent in February 2023. The unadjusted foreign trade balance showed a surplus of €16.9 billion in February 2023. In February 2022, the surplus had been €12.1 billion.
Fibre2Fashion News Desk (NB)