Germany’s export registered another decline in 2024, partly due to the decrease in demand from China.

The Federal Statistical Office of Germany (Destatis) released the country’s foreign trade data for December 2024. The seasonally and calendar-adjusted export in the country increased by 2.9 percent in December 2024 compared to the previous month, reaching 131.7 billion euros. The market expectation was that exports would decrease by 0.6 percent in December. On the other hand, imports in December increased by 2.1 percent, reaching 111.1 billion euros. As a result, Germany’s seasonally and calendar-adjusted foreign trade surplus amounted to 20.7 billion euros. In December 2023, this surplus was recorded as 21.1 billion euros. Of the total export worth 72.4 billion euros in December, the majority went to European Union (EU) countries. Similarly, 57 billion euros worth of imports also came from EU countries. Compared to November, exports to EU countries increased by 5.9 percent, while imports from these countries increased by 3.6 percent. Despite a 3.5 percent decrease to 13.5 billion euros compared to November 2024, the highest export was still made to the United States. Exports to China increased by 1.4 percent to 6.7 billion euros, while exports to the United Kingdom decreased by 6.6 percent to 6.7 billion euros.

IMPORTS FROM TURKEY INCREASED In December, Germany’s export to Turkey decreased by 5.1 percent compared to the same month of the previous year, reaching 2.068 billion euros, while imports from Turkey increased by 4.2 percent to 1.798 billion euros.