Current Account in Germany
Germany - Current Account (billions of Euros)
GDP contracted at the steepest pace in over one decade in Q1 due to Covid-19. Household expenditure was particularly hard hit by the government-imposed restrictive measures, limiting economic activity while unemployment rose on average in the quarter. Exports, meanwhile, contracted at the sharpest rate since the first quarter of 2009. However, worse is expected to come in Q2: Private consumption is forecast to freefall due to restrictive measures and skyrocketing unemployment in April, while millions of workers are on reduced hours. Moreover, the lockdown will be dragging on business activity: Operating conditions worsened through May while external demand looks unlikely to provide support. On the other hand, the gradual lifting of measures and additional fiscal measures of EUR 50–100 billion should provide some respite.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 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
-
Germany: Exports bounce back in May, outlook remains uncertain
July 9, 2020
In May, merchandise exports grew 9.0% month-on-month on a calendar- and seasonally-adjusted basis, swinging from the steep 24.0% contraction in April.
-
Germany: Industrial output rebounds in May
July 7, 2020
Industrial production rose 7.8% calendar-adjusted month-on-month basis in May (April: -17.5% mom).
-
Germany: Government opens spending taps further in June to boost the economy
June 25, 2020
In early June, the German government announced fresh stimulus of EUR 130 billion to kickstart the economy, bringing the total fiscal stimulus up to around EUR 1.2 trillion (roughly equivalent to around 35% of 2019 GDP) which has been unleashed as part of efforts to buttress the economy against fallout from Covid-19. The new stimulus equals around 4% of GDP and encompasses numerous measures, including reducing the tax burden through temporarily lowering VATs until the end of this year, as well as further liquidity and loan support of around EUR 25 billion for SMEs through August, conditional on at least a 60% annual drop in sales in April and May.
-
Germany: Consumer sentiment to remain pessimistic in July despite strong rise
June 25, 2020
Consumer confidence is expected to recover further from the Covid-19 shock at the opening of the third quarter; however, sentiment is forecast to remain pessimistic.
-
Germany: Business confidence improves but remains in negative territory in June
June 24, 2020
The business confidence indicator came in at 86.2 in June, up from May's 79.7.
© Copyright: 2020. | Germany Current Account | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
