Germany Merchandise Trade Balance (EUR bn)

Merchandise exports rise at a faster pace in January

Merchandise exports soared 12.2% in annual terms in January (December: +6.3% year-on-year). Meanwhile, merchandise imports rose 7.7% on an annual basis in January (December: +3.6% yoy).

As a result, the merchandise trade balance improved from the previous month, recording a USD 10.8 billion surplus in January (December 2023: USD 9.7 billion surplus; January 2022: USD 5.4 billion surplus). Lastly, the trend was stable, with the 12-month trailing merchandise trade balance recording a USD 14.2 billion surplus in January, compared to the USD 14.2 billion surplus in December.