Brandenburg Gate in Berlin, Germany

Imports in Germany

Germany Imports

Merchandise exports rise at stable pace in June

Merchandise exports rose 0.1% in June on a month-on-month calendar and seasonally adjusted basis, matching May’s reading. Meanwhile, merchandise imports contracted 3.4% in June (May: +1.4%). As a result, the merchandise trade surplus increased from the previous month, coming in at EUR 22.2 billion in June in calendar- and seasonally adjusted terms (May 2023: EUR 14.6 billion; June 2022: EUR 6.4 billion). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording an EUR 136.0 billion surplus in June in calendar- and seasonally adjusted terms, compared to the EUR 123.6 billion surplus in May.

Carsten Brzeski, global head of macro at ING commented:

“The collapse of export order books since the start of the year suggests a further weakening of exports in the very near term. The expected slowdown of the US economy (which accounts for roughly 10% of total German exports), still high inflation and high uncertainty will also leave their marks on German exports […]. All in all, today’s export numbers confirm the picture painted by last week’s initial GDP growth estimate: the German economy remains stuck in stagnation.”

Germany Imports Chart

This chart displays Merchandise Imports (EUR bn) for Germany from 2013 to 2022.

Germany Imports Data

2018 2019 2020 2021 2022
Merchandise Imports (EUR bn) 1,089 1,104 1,027 1,204 1,495
Imports (G&S, ann. var. %) 4.0 3.4 -8.3 8.9 6.6

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