Foreign trade volume in Germany shows declines in exports, imports in May
(MENAFN) Germany's trade figures for May 2024 showed declines in both exports and imports compared to the previous month and the same period last year, according to data released by the federal statistical authority Destatis on Monday.
In May, Germany's exports fell by 3.6 percent compared to April, amounting to €131.6 billion (USD142.4 billion). On a yearly basis, exports also decreased by 1.6 percent. Similarly, imports into Germany dropped by 6.6 percent month-on-month to €106.7 billion, marking an 8.7 percent decline compared to May 2023.
Despite these decreases, Germany maintained a trade surplus, with the foreign trade balance showing a surplus of €24.9 billion in May 2024.
Exports to European Union member states amounted to €72.3 billion, reflecting a 2.5 percent decline from April. Imports from EU countries also decreased by 8.9 percent to €55.7 billion during the same period.
On the other hand, Germany's exports to non-EU countries totaled €59.4 billion in May, down by 4.9 percent compared to April. Imports from these countries amounted to €51 billion, representing a 4 percent decrease from the previous month.
The declines in both exports and imports indicate ongoing challenges and fluctuations in Germany's external trade environment, influenced by global economic conditions and regional dynamics within the European Union and beyond.
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