Germany records increase in import, export prices
Date
1/30/2025 7:04:03 AM
(MENAFN) Germany's import prices experienced a 2.0 percent increase on a yearly basis in December, according to the latest data from the Federal Statistical Office (Destatis). This rise was largely driven by significant increases in energy prices, with electricity prices soaring by 62.2 percent and natural gas rising by 9 percent compared to December 2023. The surge in energy costs contributed to the overall increase in import prices for the month.
Import prices for non-durable consumer goods and intermediate goods also saw notable gains, with year-on-year increases of 4.6 percent. This indicates a broad uptick in the cost of imported goods, reflecting both energy price hikes and other factors influencing global trade and supply chains.
On a monthly basis, import prices climbed 0.4 percent from November, further impacted by the rising energy costs, which continued to exert pressure on the overall import price index. These figures highlight the ongoing challenges posed by high energy prices on global trade dynamics.
Looking at the yearly average for 2024, import prices decreased by 1.2 percent compared to the previous year. Meanwhile, export prices from Germany rose both year-on-year by 1.8 percent and month-on-month by 0.3 percent, with a modest overall increase of 0.3 percent for 2024.
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