German trade declines in December 2023
Germany's exports and imports recorded significant declines in December 2023.
Exports fell by 4.6 percent, while imports recorded a sharper decline of 6.7 percent. Annual figures also showed a decline. Germany's trade with non-EU countries (third countries) followed a similar trend, with exports down 3.5 percent and imports down 5.9 percent from the previous month.
EU countries outside the euro area had less of an impact.
The United States remained the main destination for German exports despite a 5.5 percent drop.
Imports from the People's Republic of China were the highest, despite an 8.5 percent drop.
Exports to Russia increased slightly by 0.4 percent compared to November 2023, but fell by 26.7 percent.
Exports decreased by 2 percent and imports by 10.2 percent compared to 2022.
The sharp decline in imports compared to exports widened the trade surplus to 209.4 billion in 2023.
[Source: www.fibre2fashion.com]
