Current Account in Germany
Germany - Current Account (billions of Euros)
Detailed national accounts data showed that the economy contracted at a slightly softer pace than initially estimated in Q2. Nonetheless, Covid-19 and associated containment measures weighed heavily on domestic and foreign demand: Exports and household consumption fell particularly sharply compared to Q1. Covid-19 has also dealt a blow to public finances, with data showing that the government ran a marked fiscal deficit in H1—the first H1 shortfall since 2011—as revenues dropped and expenses rose amid the vast stimulus package. Turning to Q3, activity seems to be recovering and the economy should exit recession. Business and consumer confidence turned less sour in July–August, while operating conditions in the private sector improved notably in the same period. The extension of Covid-19 relief measures in late August, such as the short-time work scheme, should further stimulate activity.Germany - Current Account (EUR bn) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account Balance (EUR bn) | 260 | 267 | 254 | 247 | 245 |
Germany Current Account (EUR bn) Chart
Source: German Central Bank and FocusEconomics calculations.
Germany Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | -0.19 | 0.41 % | Jan 01 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Germany: Harmonized consumer prices fall in August
September 11, 2020
Harmonized consumer prices dropped 0.19% over the last month in August, up from July’s 0.47% fall.
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Germany: Merchandise exports grow at a softer rate in July
September 8, 2020
Merchandise exports rose 4.7% month-on-month in July on a calendar- and seasonally-adjusted basis, down from June’s 14.9% jump.
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Germany: Industrial output growth ebbs in July
September 7, 2020
Industrial output grew 1.2% calendar-adjusted month-on-month basis in July (June: +9.3% mom).
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Germany: Consumer confidence expected to dip in September
August 28, 2020
Consumer confidence is expected to dip to minus 1.8 in September from minus 0.2 in August, which had marked the highest level since April.
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Germany: Economy records sharpest contraction on record in Q2
August 26, 2020
GDP contracted at a sharp pace of 9.7% on a seasonally-adjusted quarter-on-quarter basis in the second quarter (previously reported: -10.1% s.a.
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