Data published by the Federal Statistical Office (Destatis) showed that in March (on a calendar and seasonally adjusted basis) the volume of German exports fell by 5.2% compared to February, but rose by 5.0% per annum, to 129.7 billion euros, while imports declined by 6.4% over the month and grew by 5.5% per annum, to 113.0 billion euros. Against the background of this change, the trade surplus rose to 16.7 billion euros compared to 16.1 billion euros in February (revised from 16.0 billion euros).
Destatis said that, on a calendar and seasonally adjusted basis, Germany exported goods worth 69.3 billion euros (-6.2% per month) to the member states of the European Union (EU), while imports of goods from these countries amounted to 60.0 billion euros (-4.4% per month). The value of goods exported to the eurozone countries amounted to 48.8 billion euros (-6.6%), and the value of goods imported from there amounted to 40.3 billion euros (-3.2%). Goods worth 20.5 billion euros (-5.3%) were exported to EU countries outside the eurozone, while the value of goods imported from these countries amounted to 19.7 billion euros (-6.7%).
Exports of goods to countries outside the EU (third countries) amounted to 60.4 billion euros, while imports from these countries amounted to 53.0 billion euros. Compared with February 2023, exports to third countries declined by 4.0% and imports from those countries by 8.6%. Most of the German exports were sent to the United States (-10.9% for the month, to 12,5 billion euros), and most of the imports came from the People's Republic of China (-7.2% for the month, to 12.6 billion euros).