Exports fell by 1.2 percent

Author: Thomas Wandler
Date: October 9, 2023

The foreign trade surplus in August 2023 is 16.6 billion euros

According to the Federal Statistical Office Testatise, the export August 2023 was down 1.2 percent compared to the previous month. Compared to the same month last year, exports fell by 5.8 percent.

The Imports It was down 0.4 percent from the previous month and 16.8 percent from the same month last year.

In July 2023, German exports totaled 127.9 billion euros, while imports reached a value of 111.4 billion euros. This led to positive Foreign trade surplus 16.6 billion euros.

In the European Union

In August 2023, Destatis reports that goods exported to EU member states were worth 69.6 billion euros, and imports from there were worth 60.0 billion euros. Compared to the previous month, exports decreased by 1.5 percent and imports increased by 1.9 percent.

The value of exports to eurozone countries was 48.8 billion euros in August 2023, a decrease of 2.6 percent. Imports from eurozone countries totaled 40.2 billion euros, an increase of 3.2 percent.

Exports to non-euro zone EU countries amounted to 20.8 billion euros in August 2023, an increase of 1.3 percent. Imports from EU countries excluding the eurozone were 19.8 billion euros, a decline of 0.7 percent.

Outside the EU

According to Testatis data, goods worth 58.3 billion euros were exported from Germany to third countries in August 2023 and goods worth 51.3 billion euros were imported. Compared to July 2023, exports decreased by 0.9 percent and imports by 3.0 percent.

Most German exports went to the US in August 2023, but 1.3 percent fewer goods were exported here than in the previous month. Exports to China fell by 1.2 percent and to the United Kingdom by 4.2 percent.

In August 2023, most imports came from China, but they fell by 2.0 percent compared to the previous month. Imports from the US increased by 3.1 percent and UK imports by 0.9 percent.

Exports to Russia decreased by 0.5 percent to 0.7 billion euros in August 2023 compared to July 2023. Imports from Russia fell by 23.4 percent to 0.2 billion euros in the same period.