Germany: Merchandise exports grow at a slower pace in February
Merchandise exports climbed 6.3% on an annual basis in February, following January’s 12.8% upturn. February’s figure marked the softest growth since February 2021. Meanwhile, merchandise imports rose 2.6% in annual terms in February (January: +9.1% yoy), marking the weakest result since February 2021.
As a result, the merchandise trade balance improved from the previous month, recording a USD 16.9 billion surplus in February (January 2023: USD 10.0 billion surplus; February 2022: USD 12.1 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 13.5 billion surplus in February, compared to the USD 14.3 billion surplus in January.