Brandenburg Gate in Berlin, Germany

Germany Trade March 2023

Germany: Merchandise exports increase at a softer rate in March

Merchandise exports increased 4.3% annually in March, following February’s 6.4% increase. March’s outturn marked the weakest expansion since February 2021. Meanwhile, merchandise imports declined 5.6% in annual terms in March (February: +2.7% yoy), marking the weakest result since January 2021.

As a result, the merchandise trade balance improved from the previous month, recording a USD 22.5 billion surplus in March (February 2023: USD 17.0 billion surplus; March 2022: USD 9.2 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 105.4 billion surplus in March, compared to the USD 92.1 billion surplus in February.

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