Germany sees welcome jump in exports in January
March 6, 2024
German companies recorded a 6.3% increase in the value of goods exported in January compared to the previous month, the country’s Federal Statistical Office Destatis reported on Wednesday.
The jump in trade provided rare good news for the German economy, which has wavered between stagnation and recession in recent quarters.
How numbers divide
The value of exported goods increased to 135.6 billion euros (147.3 billion dollars) in the first month of the year, which means there was also a year-on-year increase of 0.3% compared to January 2023.
Exports to China grew 7.8%, to 8.1 billion euros, while those to the United States – still the largest export market – fell 1.7%, to a value of 12.5 billion euros. euros.
Goods worth €75.8 billion were exported to European Union member states and goods worth €61.2 billion were imported from across the bloc.
Compared to December 2023, calendar- and seasonally-adjusted exports to EU countries increased by 8.9%, while imports increased by 10.8%.
Exports to the United Kingdom fell by 8.1% to €6.8 billion, while imports from that country increased by 18.4% to €3.1 billion during the same period.
How are German exports?
Last year, exports fell a total of 1.4% compared to the previous year. Experts attributed this to low external demand due to high inflation rates and supposed geopolitical risks.
Source: DW
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.