Germany's trade surplus declined in December - Destatis

According to the report from the Federal Statistical Office (Destatis), in December 2020, German exports were up 0.1%, while imports were down by 0.1% on November 2020, after calendar and seasonal adjustment. Based on provisional data, Destatis also reports that, after calendar and seasonal adjustment, exports were 4.6%, and imports 0.1%, lower than in February 2020, the month before restrictions were imposed due to the corona pandemic in Germany.

Germany exported goods to the value of 100.7 billion euros and imported goods to the value of 85.9 billion euros in December 2020. Compared with December 2019, exports increased by 2.7%, and imports by 3.5% in December 2020. In the whole of 2020, exports were 9.3%, and imports 7.1%, lower than in 2019.

The foreign trade balance showed a surplus of 14.8 billion euros in December 2020. In December 2019, the surplus of the foreign trade balance amounted to 15.1 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 16.1 billion euros in December 2020.

The German current account of the balance of payments showed a surplus of 28.2 billion euros in December 2020, which takes into account the balances of trade in goods (+17.3 billion euros), services (+2.5 billion euros), primary income (+14.2 billion euros) and secondary income (-5.8 billion euros). In December 2019, the German current account showed a surplus of 25.3 billion euros.