Germany Balance of Trade

The trade surplus in Germany narrowed sharply to €1.3 billion in April of 2022, the lowest since 1992, as imports surged 25.2% year-on-year to €120.9 billion, as energy prices remain elevated while exports rose at a much smaller 9.2% to €122.2 billion. Exports to Russia accounted for €0.8 billion only. On a seasonally adjusted basis, total shipments were up 4.4% while imports increased 3.1%. Sales to Russia dropped by 10% in April, after sinking 60% in March due to sanctions imposed. Most shipments were sent to the EU (4.2%) and the US (7.7%). Imports from China jumped 12.3% and those from the Euro Area 2.4% while purchases from the US went down 1.2%.