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- Germany's trade surplus rose in February
Germany's trade surplus rose in February
According to provisional data of the Federal Statistical Office (Destatis), in February 2021, German exports were up 0.9% and imports 3.6% on a calendar and seasonally adjusted basis compared with January 2021. Destatis also reports that, after calendar and seasonal adjustment, exports were 2.1% lower than in February 2020, the month before restrictions were imposed due to the coronavirus pandemic in Germany. Imports increased by 0.2% in calendar and seasonally adjusted terms in February 2020.
Germany exported goods to the value of 107.8 billion euros and imported goods to the value of 89.7 billion euros in February 2021. Compared with February 2020, exports decreased by 1.2% and imports increased by 0.9% in February 2021.
The foreign trade balance showed a surplus of 18.1 billion euros in February 2021. In February 2020, the surplus amounted to 20.3 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded 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 balances of trade in goods (+18.6 billion euros), services (+1.2 billion euros), primary income (+7.7 billion euros) and secondary income (-8.8 billion euros). In February 2020, the German current account had shown a surplus of 21.6 billion euros.
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