Germany Balance of Trade

Last Release

Oct 31, 2023

Actual

17.76

Units In

EUR Million

16.72

Frequency

Monthly

Next Release

Jan 05, 2024

Time to Release

30 Days 15 Hours

Highest	Lowest	Average	Date Range	Source
25,455.63 Mar 2016	-535.91 Apr 1991	5,614.32 EUR Million	1950-2023	Federal Statistical Office

Germany runs regular trade surpluses since 1952, primarily due to strong exports of vehicles and other machinery. In 2017, the largest trade surpluses were recorded with the US, the UK, France, Austria, Spain, Sweden and the UAE; while the biggest trade deficits were recorded with China, Vietnam, Norway, Russia, the Netherlands, Ireland and Czech Republic.

Latest Updates

Germany's trade surplus widened to EUR 17.8 billion in October 2023, surpassing market expectations of EUR 17.1 billion and up from a slightly revised EUR 16.7 billion in the previous month, driven by a sharper decline in imports compared to exports. Purchases decreased by 1.2% to EUR 108.6 billion, hitting their lowest point since November 2021, missing the anticipated 0.8% increase. Imports from the EU fell by 2.8%, while those from non-EU countries increased by 0.8%, particularly from the US (2.2%) and Russia (6.6%). However, imports from China dropped by 2.4%, and those from the UK saw a significant decline of 15.1%. Meanwhile, exports dipped by 0.2% to EUR 126.4 billion, marking the lowest value since March 2022, in contrast to the expected 1.1% rise. Exports to the EU decreased by 2.7%, while those to third countries rose, notably to the US (5.7%), China (1.5%), and the UK (5.6%). However, exports from Russia declined by 5.0%.