German Trade Surplus Widens on Imports Slide
Economic indicators from Germany continued to send recessionary signals. In December, the German trade surplus widened from €20.7 billion to €22.2 billion. Economists forecast a trade surplus of €18.8 billion.
The latest figures highlighted the weak demand environment plaguing the German economy. However, the devil was in the details.
According to Destatis,
- Exports declined by 4.6% month-on-month in December.
- Imports slid by 6.7% month-on-month in December.
- Compared with 2022, exports were down 1.4% in 2023, while imports slumped by 9.7%.
- Exports to EU countries fell by 5.5% month-on-month, with imports down 7.4%.
Trade with non-EU countries:
- Exports…
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