Data published by the Federal Statistical Office (Destatis) showed that on a calendar and seasonally adjusted basis, the volume of German exports decreased by 6.3% compared to November, but increased by 5.9% per annum. Meanwhile, the volume of imports decreased by 6.1% for the month and increased by 3% per annum. The trade surplus decreased to 10 billion euros from 10.9 billion euros in November (revised from 10.8 billion euros). For the whole of 2022, the volume of exports increased by 14.3% per annum, and imports increased by 24.3% per annum due to a sharp increase in prices for energy exports.
Destatis also stated that in December, Germany exported goods worth 70.9 billion euros (-4% MoM) to the member states of the European Union (EU), and imported goods from these countries worth 58.7 billion euros (-4.8% MoM). The value of goods exported to the eurozone countries amounted to 49.8 billion euros (-3.2% MoM), and the value of goods imported from there amounted to 39.9 billion euros (-4.9% MoM). Goods worth 21.1 billion euros (-5.7% MoM) were exported to EU countries outside the eurozone, while the value of goods imported from these countries amounted to 18.8 billion euros (-4.5% MoM).
The data also showed that exports of goods to non-EU countries (third countries) amounted to 56.5 billion euros (-9.1% MoM), and imports from these countries amounted to 58.8 billion euros (-7.4% MoM). Most of the German exports went to the US, while most of the imports came from China.