/ world today news/ German exports fell slightly in May compared to the previous month. It fell 0.5 percent to 125.8 billion euros, the Federal Statistical Office in Wiesbaden said on Monday. Imports, on the other hand, grew by 2.7% to 126.7 billion euros. Thus, the foreign trade balance is negative – in May it amounted to roughly minus one billion euros.
For the first time since January 2008, Germany’s foreign trade balance is negative – in fact, for earlier periods before that date, the Federal Statistical Office does not have comparable data, as the statistics were then changed. But for many years Germany has been criticized for its high export surplus.
According to the information, German companies exported goods worth 67.5 billion euros to EU member states, which is 2.8% less than in April. Exports to third countries, on the contrary, are increasing: compared to April, they increased by 2.3% to 58.3 billion euros.
The majority of German exports went to the US, with their value increasing by 5.7% from April to 13.4 billion euros. Exports to China increased by 0.5 percent to 8.7 billion euros.
The largest share of imports worth €18.0 billion came from China in May, but this was down 1.6% from April. Goods for 7.4 billion euros were delivered from the USA to Germany, which is an increase of 9.7 percent.
In trade with Russia, exports rose again by about 29 percent to 1.0 billion euros – they had collapsed by almost 60 percent in March. According to the statistics, they are 54.6 percent lower than in May 2021. Imports from Russia – Germany mainly imports gas – fell by 9.8 percent from April to May to 3.3 billion euros.
Translation: ES
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