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Germany: Trade surplus stabilizes in February; exports and imports rise

April 9, 2015

The seasonally- and calendar-adjusted trade surplus remained in February at January’s EUR 19.7 billion. The trade surplus in February stabilized compared to the previous month as both exports and imports rebounded. Exports rose a seasonally-adjusted 1.5% over the previous month, contrasting January’s 2.1% decrease. Meanwhile, imports increased 1.8% in February, contrasting January’s 0.2% decline.

Compared to the same month last year, exports gained 3.9% in February (January: -0.6% year-on-year) and imports grew 0.8% annually (January: -2.2% yoy). The 12-month sum of exports to February grew 3.4% over the same period last year and the 12-month trade surplus totaled EUR 224.5 billion, reaching yet another all-time record high.

The Federation of German Wholesale, Foreign Trade and Services (BGA) noted in a recent statement that the print showed that German exports continue to grow at a solid pace. According to the BGA, foreign trade figures did not perform better mainly due to the stagnation of the euro zone, which is and remains the BGA’s main matter of concern.


Author: Teresa Kersting, Economist

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Germany Trade Chart


Germany Trade12m February 2015

Note: 12-month sum of trade balance in EUR billion and annual variation of the 12-month sum of exports and imports in %.
Source: Federal Statistics Office (Destatis) and FocusEconomics calculations.


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