11.Mar .2021 22:00

German Exports Up in Jan 2021

German Exports Up in Jan 2021
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In January 2021, German exports were up 1.4%, while imports were down 4.7% on December 2020 on a calendar and seasonally adjusted basis.

Based on provisional data, the Federal Statistical Office (Destatis) also reports that, after calendar and seasonal adjustment, exports were 3.3% and imports 5.2% lower than in February 2020, the month before restrictions were imposed due to the coronavirus pandemic in Germany.
 
Germany exported goods to the value of 98.1 billion euros and imported goods to the value of 83.8 billion euros in January 2021. Compared with January 2020, exports decreased by 8.0% and imports by 9.8% in January 2021.
 
The foreign trade balance showed a surplus of 14.3 billion euros in January 2021. In January 2020, the surplus amounted to 13.7 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 22.2 billion euros in January 2021.
 
The German current account of the balance of payments showed a surplus of 16.9 billion euros in January 2021, which takes into account the balances of trade in goods (+13.5 billion euros), services (+1.0 billion euros), primary income (+9.7 billion euros) and secondary income (-7.3 billion euros). In January 2020, the German current account showed a surplus of 15.9 billion euros.

In January 2021, Germany exported goods to the value of 54.5 billion euros to the Member States of the European Union (EU), while it imported goods to the value of 44.3 billion euros from those countries. Compared with January 2020, exports to the EU countries decreased by 6.0%, and imports from those countries fell by 5.9%. Goods to the value of 38.1 billion euros (-6.5%) were exported to the euro area countries in January 2021, while the value of the goods imported from those countries was 29.7 billion euros (-7.4%). In January 2021, goods to the value of 16.4 billion euros (-4.8%) were exported to EU countries not belonging to the euro area, while the value of the goods imported from those countries was 14.5 billion euros (-2.7%).
 
Exports of goods to countries outside the European Union (third countries) amounted to 43.6 billion euros in January 2021, while imports from those countries totaled 39.5 billion euros. Compared with January 2020, exports to third countries declined by 10.3% and imports from those countries by 13.9%.
 
Compared with the same month last year, exports to the United Kingdom dropped by 29.0% to 4.3 billion euros in January 2021. German imports from the United Kingdom were down 56.2% to 1.6 billion euros.
 
On 1 January 2021, the partnership agreement negotiated between the EU and the United Kingdom took provisional effect. As the United Kingdom has left the EU single market and the customs union, its withdrawal from the EU has now been completed. 
 
In January 2021, exports to the People's Republic of China rose by 3.1% to 7.5 billion euros compared with January 2020. Exports to the United States fell by 6.2% to 8.5 billion euros.
 
In January 2021, most imports to Germany came from the People's Republic of China. Goods to the value of 10.5 billion euros were imported from there (+1.1% on the same month of the previous year). Imports from the United States declined by 22.8% to 4.7 billion euros in January 2021.