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German Trade Surplus Widens in December on a 6.7% Slide in Imports

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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: