Exports from Germany fell by 1.7% in September on a month-on-month basis, according to new data from Destatis, the German federal statistics office.
Exports totalled €128.2 billion in September, while on a year-on-year basis, exports were down 0.2%.
Imports, meanwhile, totalled €111.3 billion, which was 2.1% higher on a month-on-month basis and 1.3% higher compared to September last year.
Foreign trade surplus
Germany’s foreign trade surplus for September 2024 totalled €17 billion, down from €21.4 billion in August 2024, but higher than the €18.6 billion recorded in September 2023.
Exports to the European Union amounted to €69.4 billion, the data showed, a 1.8% decrease compared to August 2024.
Within the EU, exports to the eurozone fell by 2.4% to €48.1 billion, while exports to non-eurozone countries saw a smaller decline of 0.3%.
On the import side, Germany’s imports from the EU rose by 1.6% to €57.8 billion, with imports from the Eurozone up by 2.2%. Imports from third countries rose 2.6% to €53.5 billion.
Exports to United States increase
In terms of exports outside the EU, the United States saw a 4.8% increase in exports, reaching €14.2 billion, Destatis noted.
At the same time, however, exports to China fell by 3.7% to €7.1 billion, and exports to the United Kingdom decreased by 4.9% to €6.4 billion.
On the import side, China remained the largest source, with imports rising by 5.6% to €14.1 billion. Imports from the United States and the United Kingdom fell slightly by 0.3% and 0.6%, respectively.
Exports to Russia showed a slight increase of 3.6% compared to August 2024, though they remained low due to the ongoing effects of the war in Ukraine. Imports from Russia rose by 20.1% compared to August 2024, although they were still significantly lower than the previous year.
Overall, Germany’s foreign trade surplus remained positive in September 2024, though it had decreased from the previous month. Read more here.
