However, exports to the USA are increasing
German exports weaken
09/04/2023, 09:18 am
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Germany’s companies deliver goods worth 130 billion euros abroad in July. The USA and China buy more products made in Germany than before. But overall, exports are falling.
Germany’s exports fell slightly in July. Compared to the previous month of June, they fell by 0.9 percent, as reported by the Federal Statistical Office. Compared to July 2022, they fell by 1.0 percent. Imports, on the other hand, rose slightly by 1.4 percent month-on-month. Compared to July 2022, they fell by 10.2 percent.
Overall, Germany’s companies exported goods worth 130.4 billion euros abroad in July. Imports were worth 114.5 billion euros, 1.4 percent more than in June. Compared to July 2022, however, imports fell significantly by 10.2 percent.
A large part of the goods was exported to the member states of the EU, the value was 71.9 billion euros. Compared to the previous month, this was an increase of 0.5 percent. In July, German companies exported goods worth 58.5 billion euros to countries outside the EU, the third countries – a decrease of 2.5 percent compared to June.
Most goods made in Germany went to the USA again in July – exports there increased by 5.2 percent compared to the previous month. Exports to China increased by 1.2 percent. Most of the imports came from there again – but the value fell by 5.8 percent compared to the previous month. Imports from the USA, on the other hand, rose by 6.1 percent.
In 2022 as a whole, German foreign trade still achieved a record result, also due to price increases, some of which were significant. The sluggish world economy is currently weighing on Germany’s export companies.