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Germany Trade Surplus Little Changed in December
German trade surplus was little changed at €14.8 billion in December of 2020 from €15.1 billion a year earlier. Exports jumped 2.7 percent to €100.7 billion, mainly boosted by sales to China (11.6%) and to the US (8.4%) which was the 1st increase in German exports to the US since February. Imports rose at a faster 3.5 percent to €85.9 billion. Adjusted for calendar and seasonal effects, exports were 4.6 percent and imports 0.1 percent lower than in February of 2020, the month before restrictions were imposed due to the coronavirus pandemic. Considering full 2020, exports declined 9.3% to €1205 billion and imports 7.1% to €1026 billion, thus narrowing the trade gap to €179.1 billion from €224 billion in 2019. It is largest year-on-year decreases in both exports and imports since the financial and economic crisis in 2009. The majority of German goods were exported to the US in 2020 although sales were down 12.5%. Most imports came from China and purchases rose 5.6%.
Published on 2021-02-09

Germany Trade Surplus Narrows Again in November
The trade surplus in Germany narrowed slightly once again to EUR 17.2 billion in November of 2020 from EUR 18.5 billion a year earlier. Exports decreased 1.3 percent to EUR 111.7 billion, the 9th straight annual decline and imports edged down 0.1 percent to EUR 94.6 billion. Sales to the EU declined 1.7 percent and those to the Euro Area were down 2.2 percent. Shipments to China increased 14.3 percent while those to the US fell 3.1 percent. Imports from the EU went up 2.6 percent and those from China 5.4 percent while purchases from the US fell 1.5 percent. Adjusted for calendar and seasonal effects, exports were still 4.7 percent and imports 0.6 percent lower than in February of 2020, the month before restrictions were imposed due to the coronavirus pandemic.
Published on 2021-01-08

Germany Trade Surplus Falls, Exports Down for 8th Month
The trade surplus in Germany narrowed slightly to EUR 19.4 billion in October of 2020 from EUR 21.3 billion a year earlier. Exports shrank 6.5 percent year-on-year to EUR 112 billion, the 8th straight annual decline and imports fell 5.9 percent to EUR 92.7 billion, the 10th consecutive drop. Exports to the Euro Area went down 5.1 percent and those to the UK sank 11.7 percent. Sales to the United States, which have been hit particularly hard by the coronavirus pandemic, dropped 10.5 percent while sales to China edged up 0.3 percent. Imports to the Euro Area decreased 2.9 percent and those from the UK were down 14.7 percent. Purchases from China slumped 3.3 percent, those from the US 18.8 percent and from the UK 17.6 percent. Adjusted for calendar and seasonal effects, exports were still 6.8 percent and imports 5.2 percent lower than in February of 2020, the month before restrictions were imposed due to the coronavirus pandemic.
Published on 2020-12-09

Germany Trade Surplus Falls Slightly
Germany's trade surplus narrowed slightly to EUR 20.8 billion in September of 2020 from EUR 21.1 billion a year earlier. Exports were down 3.8 percent year-on-year to EUR 109.8 billion and imports declined 4.3 percent to EUR 89 billion. Exports to the Euro Area went down 4.5 percent and those to the UK sank 12.4 percent. Sales to the United States, which have been hit particularly hard by the coronavirus pandemic, dropped 5.8 percent while sales to China increased 10.6 percent. Imports to the Euro Area decreased 4.4 percent and those from the UK were down 14.7 percent. In contrast, purchases rose from China (up 3 percent) and the US (3 percent). Adjusted for calendar and seasonal effects, exports were down 7.7 percent and imports 5.7 percent compared with February of 2020, the month before restrictions were imposed due to the coronavirus pandemic.
Published on 2020-11-09

German Trade Surplus Smallest in 3 Months
Germany's trade surplus declined to EUR 12.8 billion in August 2020, from EUR 16.4 billion in the same month of the previous year, as the coronavirus pandemic hit global demand. Exports dropped 10.2 percent due to lower sales to the European Union (-7 percent) and to third countries (-13.6 percent), in particular the UK (-7.3 percent), the US (-21.1 percent) and China (-1.1 percent). Imports fell at a softer 7.9 percent, as purchases from the EU dropped 5.4 percent and those from third countries tumbled 10.5 percent. Among these, imports fell from the UK (-22.2 percent) and the US (-5.2 percent), while imports from China were unchanged. On a seasonally adjusted basis, exports rose 2.4 percent from a month earlier, beating expectations of 1.4 percent, while imports were up 5.8 percent, compared to forecasts of a 1.4 percent gain.
Published on 2020-10-08

German Trade Surplus Narrows in July
Germany's trade surplus declined to EUR 19.2 billion in July 2020 from EUR 21.3 billion in the same month of the previous year, as the coronavirus pandemic hit global demand. Exports dropped 11 percent due to lower sales to the European Union (-10.7 percent) and to third countries (-12.5 percent), in particular to the UK (-12.6 percent), the US (-17.0 percent) and China (-0.1 percent). Imports fell at a faster 11.3 percent, as purchases from the EU plunged 13.1 percent and those from third countries declined 12.2 percent. Among non-EU countries, imports slumped from the UK (-24.8 percent) and the US (-14.8 percent), but were up from China (7.4 percent). On a seasonally adjusted basis, exports rose 4.7 percent in July, below expectations of 5 percent, while imports increased 1.1 percent, compared to forecasts of a 3.3 percent gain.
Published on 2020-09-08

German Trade Surplus Narrows in June
Germany's trade surplus narrowed to EUR 15.6 billion in June 2020 from EUR 16.5 billion in the same month of the previous year, as the coronavirus pandemic hit global demand. Exports dropped 9.4 percent due to lower sales to the European Union (-11 percent) and to third countries (-7.4 percent), in particular to the UK (-15.7 percent) and the US (-20.7 percent), but rose to China (15.4 percent). Imports fell at a faster 10 percent, as purchases from the EU plunged 10.6 percent and those from third countries declined 9.3 percent. Among non-EU countries, imports slumped from the UK (-21 percent) and the US (-17.4 percent), but were up from China (20.2 percent). On a seasonally adjusted basis, exports surged 14.9 percent in June, the most since the 1990s and above expectations of 13.3 percent, while imports rose 7 percent, compared to forecasts of a 10.9 percent surge.
Published on 2020-08-07

German Trade Surplus Narrows in May
Germany's trade surplus narrowed sharply to EUR 7.1 billion in May 2020 from EUR 20.7 billion in the same month of the previous year, as the coronavirus pandemic hit global demand. Exports tumbled 29.7 percent due to lower sales to the European Union (-29 percent) and to third countries (-30.5 percent), in particular to the UK (-46.9 percent), the US (-36.5 percent) and China (-12.3 percent). Imports slumped 21.7 percent, as purchases from the EU plunged 25.2 percent and those from third countries fell 17.5 percent. Among non-EU countries, imports were down from the UK (-20.3 percent) and the US (-26.9 percent), but were up from China (23.4 percent). On a seasonally adjusted basis, exports rebounded 9 percent in May, missing market forecasts of a 13.8 percent recovery, while imports rose 3.5 percent, also less than an expected 12 percent jump.
Published on 2020-07-09

German Trade Surplus Smallest in 19 Years
Germany's trade surplus narrowed sharply to EUR 3.5 billion in April 2020, the smallest since December 2000, as both exports and imports dropped at record rates amid the coronavirus pandemic. Exports slumped 31.1 percent due to lower sales to the European Union (-34.8 percent), mostly to France (-48.3 percent) and Italy (-40.1 percent). In addition, sales to third countries fell 27 percent, in particular to the UK (-42.1 percent), the US (-35.8 percent) and China (-12.6 percent). Imports tumbled 21.6 percent, as purchases from the EU plunged 30.1 percent, in particular from France (-37.3 percent) and Italy (-32.5 percent). Imports from third countries also dropped 11.4 percent despite increases in purchases from China (10 percent), the UK (8.8 percent) and the US (2.4 percent). On a seasonally adjusted basis, the trade surplus narrowed sharply to EUR 3.2 billion, missing market consensus of EUR 10 billion, with exports and imports falling the most since August 1990.
Published on 2020-06-09

Bond Yields Rise
The US and most euro zone bond yields rose on Monday, as investors anticipated further steps from policymakers to soften the economic blow of the coronavirus pandemic. Traders weighed efforts to reopen economies against concerns over the possibility of a second wave of COVID-19 that could lead to future lockdowns.
Published on 2020-05-11

German Trade Surplus Narrows in March
Germany's trade surplus narrowed to EUR 17.4 billion in March 2020 from EUR 22.3 billion in the same month of the previous year, as exports plunged 7.9 percent due to lower sales to the European Union (-11.0 percent), of which the Eurozone (-14.0 percent). In addition, sales to third countries dropped 4.3 percent, in particular to the UK (-9.0 percent). Imports dropped 4.5 percent, as purchases from the EU plunged 8.0 percent, in particular from the Euro area (-7.8 percent). Imports from third countries also fell 0.1 percent, especially from the UK (-14.6 percent). On a seasonally adjusted basis, the trade surplus narrowed sharply to EUR 12.8 billion, missing market consensus of EUR 18.9 billion, with exports and imports falling by 11.8 percent and 5.1 percent, respectively.
Published on 2020-05-08

German Trade Surplus Largest in 4 Months
Germany's trade surplus widened to EUR 20.8 billion in February 2020, the largest since October, from EUR 17.8 billion in the same month of the previous year. Exports went up 0.4 percent led by sales to EU countries outside the Eurozone (6.2 percent). Meanwhile, exports to the bloc fell 1.3 percent and those to third countries edged down 0.1 percent, due to lower sales to China (-8.9 percent). Imports dropped 2.9 percent, as purchases from the bloc plunged 3.3 percent, while those from EU countries outside the Eurozone rose 1.3 percent. Imports from third countries dropped 4.1 percent mostly on the back of a 12 percent tumble in purchases from China. On a seasonally adjusted basis, the trade surplus widened to EUR 21.6 billion, beating market consensus of EUR 17.5 billion.
Published on 2020-04-09

German Trade Surplus Smallest in 4 Years
Germany's trade surplus narrowed to EUR 13.9 billion in January 2020 from EUR 14.5 billion in the same month of the previous year. This was the smallest trade surplus since January 2016, as exports dropped 2.1 percent led by lower sales to third countries (-2.0 percent), in particular to China (-6.5 percent). Also, there was a decline in exports to the UK (-16.3 percent) and the EU (-2.2 percent), of which the Eurozone (-1.8 percent) and non-Eurozone countries (-2.9 percent). Imports dropped at a softer 1.8 percent, as purchases from the EU fell 2.5 percent due to a 5.4 percent plunge in imports from the Eurozone. Meanwhile, imports from non-Eurozone countries rose 3.0 percent and purchases from the UK jumped 14.5 percent. Imports from third countries dropped by 0.9 percent led by lower purchases from China (-0.5 percent). On a seasonally adjusted basis, the trade surplus narrowed to EUR 18.5 billion from a revised EUR 19.0 billion, still beating consensus of EUR 15.4 billion.
Published on 2020-03-09

German Trade Surplus Widens in December
Germany's trade surplus widened to EUR 15.2 billion in December 2019 from EUR 14.1 billion in the same month of the previous year, as exports rose 2.3 percent boosted by sales to third countries (7.3 percent). Meanwhile, there was a decline in exports to the EU (-1.5 percent) of which Eurozone (-2.0 percent) and non-Eurozone countries (-0.5 percent). Imports increased at a softer 1.2 percent, as purchases rose from third countries (5.7 percent) and non-Euro zone countries (3.7 percent). Imports from the bloc, however, slumped 4.9 percent. On a seasonally adjusted basis, the trade surplus rose to EUR 19.2 billion, above consensus of EUR 18.4 billion. Considering 2019 full year, the trade surplus narrowed to EUR 223.6 billion from EUR 228.7 billion in 2018, with exports and imports rising 0.8 percent and 1.4 percent respectively.
Published on 2020-02-07

German Trade Surplus Narrows in November
Germany's trade surplus narrowed to EUR 18.3 billion in November 2019 from EUR 20.2 billion in the same month the previous year, as exports fell 2.9 percent on the back of lower sales to both the EU (-2.4 percent) and non-EU countries (-3.5 percent). Meanwhile, imports declined at a softer 1.6 percent as purchases from the EU dropped 1.4 percent and those from third countries fell 1.8 percent. On a seasonally adjusted basis, the trade surplus was also down to EUR 18.3 billion from a marginally revised EUR 20.4 billion in October and below market consensus of EUR 20 billion. Exports dropped 2.3 percent, much worse than expectations of a 0.5 percent fall; while imports declined 0.5 percent, missing forecasts of a 0.2 percent growth.
Published on 2020-01-09

German Trade Surplus Widens in October
Germany's trade surplus widened to EUR 21.5 billion in October 2019 from EUR 18.7 billion in the same month of the previous year. Exports rose 1.9 percent to EUR 119.5 billion while imports declined 0.6 percent to EUR 98.0 billion. On a seasonally adjusted basis, the country's trade surplus unexpectedly increased to EUR 20.6 billion in October from EUR 19.2 billion in September, above market consensus of EUR 19 billion, as exports rose 1.2 percent, easily beating expectations of a 0.7 percent fall; while imports were flat compared to consensus of a 0.1 percent decline.
Published on 2019-12-09

German Trade Surplus Widens in September
Germany's trade surplus widened to EUR 21.1 billion in September 2019 from EUR 18.2 billion in the same month last year, as exports advanced 4.6 percent to EUR 114.2 billion, while imports grew 2.3 percent to EUR 93 billion. Considering the first nine months of the year, the trade surplus narrowed to EUR 168.8 billion from EUR 175.8 billion in the corresponding period 2018.
Published on 2019-11-08

German Trade Surplus Narrows in August
Germany's trade surplus narrowed to EUR 16.2 billion in August 2019 from EUR 17.6 billion in the same month last year, as exports declined 3.9 percent to EUR 101.2 billion and imports shrank 3.1 percent to EUR 85 billion. Considering the first eight months of the year, the trade surplus shrank to EUR 147.5 billion from EUR 156.4 billion in the corresponding period of 2018.
Published on 2019-10-10

German Trade Surplus Widens Sharply in July
Germany's trade surplus widened to EUR 21.4 billion in July 2019 from EUR 16.4 billion in the same month last year, as exports rose 3.8 percent while imports fell 0.9 percent. Considering the first seven months of the year, the trade surplus narrowed to EUR 131.1 billion from EUR 138.8 billion in the corresponding period of 2018. On a seasonally adjusted basis, the trade surplus widened to EUR 20.2 billion in July from a revised EUR 18.0 billion in June and above market consensus of EUR 17.5 billion. Exports went up 0.7 percent, easily beating expectations of a 0.5 percent drop; while imports declined 1.5 percent, worse than market consensus of a 0.3 percent fall.
Published on 2019-09-09

German Trade Surplus Narrows in June
The German trade surplus narrowed to EUR 16.8 billion in June 2019 from EUR 22.0 billion in the same month a year earlier, as exports tumbled 8 percent and imports declined at a softer 4.4 percent. Considering the first half of the year, the trade surplus decreased to EUR 109.9 billion from EUR 122.4 billion in the corresponding period of 2018. On a seasonally adjusted basis, the trade surplus narrowed to EUR 18.1 billion in June from EUR 18.7 billion in June, missing market consensus of EUR 18.6 billion. Exports fell 0.1 percent, matching expectations, while imports rose 0.5 percent, beating consensus of a 0.3 percent gain.
Published on 2019-08-09