(MENAFN) Germany's foreign trade surplus continued its upward trajectory, expanding to €22.3 billion (USD24 billion) in March, as per official data released on Tuesday by Destatis, the country's statistical office.
This marked an increase from €21.4 billion in February and €17.2 billion in March 2023, indicating a sustained trend of growth in Germany's trade surplus.
In March, German exports experienced a modest uptick of 1.2 percent year-on-year, reaching €134.1 billion, while imports saw a slight decline of 3 percent, totaling €111.9 billion. Comparatively, exports and imports also rose by 0.9 percent and 0.3 percent, respectively, from the previous month.
Notably, Germany's exports to countries outside the EU amounted to €60.9 billion, with imports from third countries reaching €53.1 billion during the same period.
Analyzing specific trade relationships, the US emerged as a key destination for German exports in March, with shipments valued at €14.3 billion, representing a 3.6 percent increase from the previous month. Meanwhile, exports to China rose by 3.7 percent to €8.3 billion, while those to the UK experienced a slight decline of 3.8 percent to €6.4 billion.
Conversely, China remained Germany's primary source of imports, with goods valued at €13.7 billion, marking a notable increase of 14.3 percent from February.
These figures underscore Germany's robust position in the global trade landscape, with its export-oriented economy continuing to demonstrate resilience amidst evolving market dynamics and geopolitical challenges.
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