German Exports Rise Unexpectedly; Imports Rebound
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Loading... - Sabrina Jabal
- 07 Feb 2025
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According to data released by Destatis on Friday, German exports experienced an unexpected increase in December, while imports rebounded, defying expectations. This development marks a positive turn for the country's trade sector, which had been experiencing a decline in recent months.
In December, German exports registered a 2.9% monthly growth, following a 2.3% increase in November. This represents the second consecutive month of growth, contradicting forecasts of a 0.6% decline. The unexpected rise in exports suggests a potential recovery in the sector.
Simultaneously, imports rebounded by 2.1% in December, after a 2.7% decline in November. This growth exceeded expectations of a 1.8% increase, indicating a resurgence in import activity.
As a result of the export growth and import rebound, the trade surplus rose to EUR 20.7 billion in December, up from EUR 19.2 billion in November. This surpassed forecasts of a decline to EUR 17 billion.
On a yearly basis, the decline in exports slowed to 0.2% in December, compared to a 6.2% decline in the previous month. Meanwhile, imports gained 1.9%, reversing the 4.8% decline in November.
For the entire year of 2024, German exports decreased by 1.3%, while imports dropped by 3.0% compared to 2023. Despite this, the foreign trade balance showed a surplus of EUR 239.1 billion, up from EUR 217.7 billion in 2023.
The unexpected rise in German exports and rebound in imports in December offer a positive outlook for the country's trade sector. While the overall trade performance in 2024 was affected by declines in exports and imports, the trade surplus increased, indicating a resilient economy. As the global trade landscape continues to evolve, Germany's trade sector will likely remain a key area of focus for economists and policymakers.
