Germany German exports and imports increase in July
German companies exported more goods in July. They mostly did good business in Europe.
06.09.2024, 09:38
SDA
With a calendar and seasonally adjusted value of 130 billion euros, German exports were 1.7 percent higher than in the previous month of June, as reported by the Federal Statistical Office on Friday. Exports had previously fallen for two months in a row. Compared to the same month last year, exports fell by 1.2 percent.
Imports to Germany increased more strongly, rising by 5.4 percent in the month. However, at a value of 113.2 billion euros, they are still below the value of exports.
This results in a foreign trade surplus of 16.8 billion euros after 20.4 billion euros in June. This is the lowest figure since May 2023.
Declines in China and the USA
German exporters suffered particularly sharp declines in China. Goods worth €7.3 billion were still exported there, a calendar and seasonally adjusted decline of 8.0%. On the import side, considerably more goods came from the People's Republic, with a value of 13.6 billion euros (+6.6 percent).
Exporters also suffered losses from the USA, their largest customer. The value of goods there fell by 1.7 percent to 12.7 billion euros during the month. Within the EU, German exports rose by 3.3 percent to 72.1 billion euros.
