Brandenburg Gate in Berlin, Germany

Germany Trade Balance April 2020

Germany: Merchandise exports growth decelerates in April

Merchandise exports growth softened to 0.3% month-on-month in April from 1.3% in March, while imports fell 1.7% month-on-month from a 7.1% expansion in the prior month. The data suggests that lingering restrictions to combat the spread of the coronavirus weighed on external and domestic demand at the outset of the second quarter. However, supply bottlenecks also weighed on imports. The calendar- and seasonally-adjusted trade surplus widened to EUR 15.9 billion in April from EUR 14.0 in March.

On an annual basis, exports of goods skyrocketed 47.7% in April (March: +16.3% yoy). While this is suggestive of healthier demand dynamics compared to the same period a year ago, a supportive base effect flattered the reading. In April last year much of the world was in lockdown during the first wave of the pandemic, which weighed heavily on activity and foreign trade. Imports jumped 33.2% over the same month a year earlier in April on the back of a similar narrative (March: +16.2% yoy).

Anton F. Börner, president of the Federal Association of Wholesale, Foreign Trade and Services (BGA) commented:

“It is unlikely that the delivery bottlenecks will be resolved in the short term. In fact, after this crisis it will take months for the international supply chains to re-establish themselves. Calls for export bans, trade defense instruments or tariffs are not a solution in this situation and do not suit a foreign trade nation. In the current situation in particular, one should avoid any additional burdens on the supply chains, including a poorly made national supply chain law.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest