Exports (calendar and seasonally adjusted exports of goods), August 2023
127.9 billion euros
-1.2% on the previous month
-5.8% on the same month a year earlier
Imports (calendar and seasonally adjusted imports of goods), August 2023
111.4 billion euros
-0.4% on the previous month
16.8% on the same month a year earlier
Foreign trade balance (calendar and seasonally adjusted), August 2023
+16.6 billion euros
WIESBADEN – In August 2023, German exports were down 1.2% and imports dropped 0.4% on a calendar and seasonally adjusted basis compared with July 2023. Based on provisional data, the Federal Statistical Office (Destatis) also reports that exports decreased by 5.8% from August 2022 and imports fell by 16.8%.
After calendar and seasonal adjustment, Germany exported goods to the total value of 127.9 billion euros and imported goods to the value of 111.4 billion euros in August 2023. The foreign trade balance showed a surplus of 16.6 billion euros in August 2023. The calendar and seasonally adjusted surplus stood at 17.7 billion euros in July 2023 and 2.0 billion euros in August 2022.
Trade with EU countries
On a calendar and seasonally adjusted basis, Germany exported goods to the value of 69.6 billion euros to the Member States of the European Union (EU) in August 2023, while it imported goods to the value of 60.0 billion euros from these countries in the same period. Compared with July 2023, calendar and seasonally adjusted exports to EU countries fell by 1.5%, while imports from these countries rose by 1.9%. The value of the goods exported to euro area countries totalled 48.8 billion euros (-2.6%) in August 2023, and the value of the goods imported from these countries was 40.2 billion euros (+3.2%). In August 2023, goods to the value of 20.8 billion euros (+1.3%) were exported to EU countries not belonging to the euro area, while the value of the goods imported from these countries was 19.8 billion euros (-0.7%), on a calendar and seasonally adjusted basis.
Trade with non-EU countries
Exports of goods to countries outside the EU (third countries) amounted to 58.3 billion euros in August 2023, while imports from these countries totalled 51.3 billion euros, on a calendar and seasonally adjusted basis. Compared with July 2023, exports to third countries declined by 0.9% and imports from third countries fell by 3.0%.
Most German exports in August 2023 went to the United States. After seasonal and calendar adjustment, exports of goods to the United States were down 1.3% compared with July 2023, with the value of exports to the United States dropping to 13.3 billion euros. Exports to the People’s Republic of China increased by 1.2% to 8.4 billion euros, while exports to the United Kingdom fell by 4.2% to 6.0 billion euros.
Most imports in August 2023 came from the People’s Republic of China. Goods to the value of 13.0 billion euros were imported from there, which represented a 2.0% decrease compared with the previous month, after calendar and seasonal adjustment. Imports from the United States decreased by 3.1% to 7.6 billion euros. Imports from the United Kingdom dropped by 0.9% to 3.0 billion euros during the same period.
Exports to the Russian Federation declined a calendar and seasonally adjusted 0.5% to 0.7 billion euros in August 2023 compared with July 2023. Compared with August 2022, when exports to Russia decreased sharply as a result of the Russian attack on Ukraine, exports fell by 36.1%. Imports from Russia dropped 23.4% to 0.2 billion euros in August 2023 from July 2023, and were down 93.7% compared with August 2022.
Original foreign trade values (not adjusted for calendar or seasonal effects)
Germany exported goods to the value of 121.8 billion euros and imported goods to the value of 107.4 billion euros on a nominal basis (not adjusted for calendar or seasonal effects) in August 2023. Compared with August 2022, exports in August 2023 therefore decreased by 5.8%, and imports fell by 16.7%. The unadjusted foreign trade balance showed a surplus of 14.4 billion euros in August 2023. In August 2022, the surplus was 0.4 billion euros.
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