The Magazine for Asian Investors
According to the German Federal Statistical Office, German exports in December 2021 increased by 0.9% to 117 billion euros ($133.58 billion), seasonally adjusted. Imports rose by 4.7% to 110 billion euros.
The foreign trade balance closed with a surplus of 7.0 billion euros in December 2021. Corrected for calendar and seasonal effects, the surplus on the external trade balance in December 2021 was 6.8 billion euros.
In 2021, the United States was the most important export destination for German goods, with exports up 18.0% year-on-year to 122.1 billion euros. This was followed by China with exports up 8.1% worth 103.6 billion euros and France with 102.3 billion euros up 12.6%.
The most important importing country was China, with goods worth 141.7 billion euros. Imports from China increased 20.8% Year on Year. The Netherlands was the second most important importing country with goods worth 105.6 billion euros, followed by the U.S. with goods worth 72.1 billion euros.
Mr. Thomas Gitzel, Chief Economist of VP Bank said, “The shortage of supplies was a burden. Meanwhile, the export balance sheet looks surprisingly good,” adding, “The order books are full, so there is no shortage of commissions.”