Germany’s exports fell 2.1% in February

Germany‘s exports (goods and services) were 2.1% lower in February 2021 than in the same month of the previous year, according to provisional data from the Federal Statistical Office (Destatis).

Conversely, German imports increased 0.2% in calendar and seasonally adjusted terms in February 2020.

For Germany, international trade represents 88.1% of its Gross Domestic Product (GDP).

Behind China and the United States, Germany is the world’s third largest importer and exporter.

It is also the largest global automobile exporter.

At a month-on-month rate (compared to January 2021), Germany’s exports increased 0.9% and imports grew 3.6% in February.

Germany exported goods worth € 107.8 billion and imported goods worth € 89.7 billion in February 2021.

Compared to February 2020, exports of goods decreased 1.2% and imports increased 0.9% in February 2021.

Germany exports

Thus, the foreign trade balance showed a surplus of 18.1 billion euros in February 2021.

Comparatively, in February 2020, the surplus amounted to 20.3 billion euros.

In calendar and seasonally adjusted terms, the foreign trade balance registered a surplus of 19.1 billion euros in February 2021.

The German current account of the balance of payments showed a surplus of 18.8 billion euros in February 2021, which takes into account the trade balances of goods (+18.6 billion euros), services (+1.2 billion euros), primary income (+7,700 million euros), secondary income (-8,800 million euros).

In February 2020, the German current account had shown a surplus of 21.6 billion euros.

Also, in February 2021, Germany exported goods worth € 58.3 billion to the member states of the European Union (EU), while it imported goods worth € 49.7 billion from those countries.

Compared to February 2020, exports to EU countries decreased 0.3%, while imports from those countries grew 0.7 percent.

In February 2021, goods worth € 40.4 billion (-0.9%) were exported to euro area countries, while the value of imported goods from those countries was € 33.7 billion (-0.6 percent).

Also in February 2021, goods worth € 17.9 billion (+ 1.2%) were exported to non-euro area EU countries, while the value of imported goods from those countries was 16,000 million euros (+ 3.7 percent).