Germany’s exports fell 2.1% in February

Redacción Opportimes 18 abril, 2021

Las exportaciones de Alemania (Bienes y servicios) fueron 2.1% menores en febrero de 2021 que en el mismo mes del año anterior, de acuerdo con datos provisionales de la Oficina Federal de Estadística (Destatis). 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). — Photo: Port of Hamburg.

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).