June German exports up 1.3%, 23.6% over May '21, Jun '20 respectively

12 Aug '21

3 min read

Pic: Shutterstock

German exports were up by 1.3 per cent and imports by 0.6 per cent in June this year on a calendar and seasonally adjusted basis compared with May 2021. Germany exported goods worth €118.7 billion and imported goods worth €102.4 billion in June. Exports increased by 23.6 per cent and imports by 27 per cent in June this year compared with June 2020.

Based on provisional data, the Federal Statistical Office (Destatis) also reported that after calendar and seasonal adjustment, exports were 1.1 per cent and imports 10 per cent higher than in February 2020, the month before restrictions were imposed due to the pandemic in the country, according to a press release from Destatis.

The foreign trade balance showed a surplus of €16.3 billion in June 2021. In June 2020, the surplus amounted to €15.4 billion. The calendar and seasonally adjusted surplus of June 2021 was €13.6 billion.

The current account of the balance of payments showed a surplus of €22.5 billion euros in June 2021, which takes into account the balances of trade in goods (plus €16.2 billion), services (plus €0.5 billion), primary income (plus €8.6 billion) and secondary income (minus €2.9 billion). In June 2020, the current account showed a surplus of €20.3 billion.

In June 2021, Germany exported goods worth €64.5 billion to European Union (EU) member states, while it imported goods worth member states 54.9 billion from those countries.

Compared with June 2020, exports to the EU countries increased by 26.1 per cent and imports from those countries by 22.1 per cent.

Goods worth member states 45.0 billion (plus 24.9 per cent) were exported to the euro area countries in June 2021; the value of the goods imported from those countries was member states 37.9 billion (plus 22.5 per cent).

In June 2021, goods worth €19.5 billion (plus 29.0 per cent) were exported to EU countries not belonging to the euro area, while the value of the goods imported from those countries was €17 billion (plus 21.3 per cent).

Exports of goods to noon-EU countries amounted to €54.1 billion in June 2021, while imports from those countries totalled €47.5 billion. Compared with June 2020, exports to such countries increased by 20.7 per cent and imports from those countries rose by 33 per cent.

Compared with June last year, exports to the United Kingdom were up by 11 per cent to €5.5 billion in June this year. Germany’s imports from the United Kingdom increased by 11.5 per cent to €2.7 billion over the same period.

In June 2021, exports to China rose by 16 per cent to €9.5 billion over June 2020. Exports to the United States increased by 39.8 per cent to €10.3 billion over the same period.

In June this year, most imports to Germany were from China. The value of the goods imported from China was €10.9 billion—an 11.1 per cent increase compared with the same month last year. Imports from the United States were up by 56.0 per cent to €6.9 billion in June year on year.

Fibre2Fashion News Desk (DS)

More Textiles News - Germany...