Germany’s imports rise 2.4% in the first quarter

Germany‘s imports totaled 280 billion euros in the first quarter of 2021, up 2.4% year-on-year.

Germany is the largest economy in Europe and the fourth largest in the world.

It is also the third largest exporting country and the fourth largest manufacturer.

On the contrary, German exports from January to March 2021 were for 332.6 billion euros, an advance also of 2.4 percent

Thus, the foreign trade balance showed a surplus of 51,200 million euros as of March 2021.

Behind the United States and China, Germany ranks third among the world’s largest product importers.

In 2020, Germany’s imports were worth $ 1.17 trillion.

Its main suppliers of goods in the past year were: China (a share of 11.3%), the Netherlands (7.7%), the United States (6.6%) and Poland (5.7%).

Similarly, with 1.38 trillion dollars, Germany is in the third place among the largest exporters of products globally, behind China and the United States.

Germany‘s imports 

The German current account of the balance of payments showed a surplus of 30.2 billion euros in March 2021.

This indicator takes into account the trade balances of goods (+23,300 million euros), services (+1,300 million euros), primary income (+10,000 million euros) and secondary income (-4,500 million euros).

In March 2021, Germany’s imports were 105.9 billion euros, a growth of 15.5% year-on-year.

For their part, exports increased 16.2% in the same month, to 126.5 billion euros, according to data from the Federal Statistical Office (Destatis).

In March 2021, Germany exported € 67.5 billion worth of goods to European Union (EU) member states and imported € 57.7 billion worth of goods from those countries.

Compared with March 2020, exports to EU countries increased 21.2% and, conversely, imports from those countries 18.4%.