Main article: German economy
2024
3% of Germany's GDP depends on China's demand for its goods and services
According to data available for March 2024, Germany is one of the countries with the greatest risk from China, since ~ 3% of its GDP depends on Chinese demand.
Germany's exports to Kyrgyzstan in February amounted to 74 million euros
Germany's exports to Kyrgyzstan in February 2024 amounted to 74 million euros.
Trade balance record in January - 27.5 billion euros
In January 2024, in Germany, the trade balance unexpectedly set a new historical record of 27.5 billion euros.
2023
Overall Export Decline
Germany's exports in December 2023 fell more than expected.
Exports fell 4.6%, against a 2% drop forecast. Imports fell 6.7% compared to November (forecast - a decrease of 1.5%).
The Ifo Institute argues that the lack of orders in manufacturing is putting pressure on the economy.
Economists warn the data points to a new recession.
Germany's exports to Central Asian countries exceeded the level of exports to Russia
IIF chief economist Robin Brooks: "The German thesis about redirecting exports to Central Asia:" these exports are small, so what a difference. " It's NOT small, really. German exports Kazakhstan to (orange) and other Central Asian countries (red) exceeded direct exports Germany to (Russia blue) by September 2023. "
It is very likely that German goods supplied to Central Asian countries eventually end up in Russia.
Export growth to Kyrgyzstan by 1400%
In the first 7 months of 2023, Germany's exports to Kyrgyzstan increased by 1400% compared to the same period in 2019, which indicates the desire of German companies to maintain supplies of their products to the Russian market according to the model of re-export through third countries.
Collapse of exports to China
China is losing its importance as a market for German exporters, with data showing a steady decline in its share of total exports, a trend that will continue as Berlin and Beijing reevaluate their economic ties.
In the first half of 2023, exports to China amounted to only 6.2% of the total German exports - the lowest share since 2016.
The emergence of China as a market economy in the 2000s gave a powerful boost to German companies and has since contributed greatly to the overall state of Germany's economy. However, this growth driver for Europe's largest economy will weaken in the coming years.
At the end of the third quarter of 2023, German trade with China continues to cool.
The United States and France are the main export destinations of Germany
In February 2023, exports to China fell 12.4%, while exports to the United States rose 19%. This means that the United States is by far the most important export market for Germany, France has also established itself in the No. 2 position, significantly ahead of China.
Decrease in exports to Russia in January by 60% to 1 billion euros
Imports from Germany to the Russian Federation in January 2023 were 60% lower than a year earlier and amounted to about 1 billion euros, Destatis reported.
2022
G7 countries are the main export destination
The United States is the largest export destination
Trade deficit with China doubles to 84 billion euros
Finance Minister Christian Lindner is concerned that Germany's economy is becoming too dependent on China and has called for closer trade ties with democracies to counter the addiction.
"Dangerous development: Germany's trade deficit with China more than doubled in 2022," Lindner wrote on Twitter. "We have to learn from the experience with Russia." Germany "urgently" needs to rethink the situation and focus on freer trade with "valuable partners."
Chancellor Olaf Scholz's government aims to reduce Germany's dependence on China, but executives at some of the country's biggest companies oppose it. Executives from BASF SE and Mercedes-Benz AG to Siemens AG and Volkswagen AG seek to separate business interests from political concerns.
The Asian superpower is Germany's largest trading partner, with total trade of nearly 300 billion euros ($323 billion) in 2022, or nearly 8% of the output of Europe's largest economy.
Abandoning China is "unthinkable" for German industry, Mercedes CEO Ola Kallenius said in May 2023.
China overtakes Germany to become second largest car exporter after Japan
Overtook in 2022 China , Germany becoming the second largest Japan after the exporter of cars in the world. Exports accounted for 11.5% of China's total production volume, or 27 million vehicles.
Transshipment in German ports decreased by 3.2% due to sanctions against Russia
Sanctions against Russia have led to a decrease in cargo transshipment in German ports, which worries the authorities. The volume of cargo transshipped at German seaports in 2022 decreased by 3.2% compared to the previous year. In Bremen, throughput fell by 20% at the beginning of 2023. As a result, Germany is trying to ban the modernization of an important port in Poland. For more details see Economy of Poland.
Decrease in exports to Russia in November by 52% to 1.2 billion euros
According to DeStatis, the export of goods from Germany to Russia in November 2022 amounted to 1.2 billion euros, which is 52.4% less than a year ago (2.6 billion euros).
The collapse of the trade balance due to the conflict with Russia
Germany's exports to Russia collapsed by 40% in 9 months
Germany's exports to Russia, according to the final estimate, in August 2022 compared to the same period last year decreased by 45.8% - to 1.2 billion euros - Destatis.
From January to September, German exports to Russia in value terms amounted to 11.6 billion euros, which is 40.9% less than in the same period in 2021.
The rise of imports from Russia to a record since 2014.
By early June 2022, German imports from Russia had reached their highest level since 2014 due to higher energy prices.
First monthly trade deficit since 1991
Germany reported its first monthly trade deficit in 30 years after exports fell in May 2022.
The deficit of 1 billion euros (1 billion) dollars was the first since 1991. Cross-border sales were down 0.5% compared to economists' forecast of 0.7% growth. At the same time, imports rose 2.7%, far more than expected.
Crashing exports to Russia to lowest level in 20 years
German exports to Russia in March 2022 fell to the lowest level in almost 20 years.
Sales to Russia fell 63% to about 860 million euros ($905 million) in March "due to sanctions, measures to restrict exports and unauthorized behavior of market participants" amid Russia's special operation in Ukraine.
Total exports fell Germany 3.3% from the previous month.
2021
China's fourth largest trading partner
Germany is among the largest arms exporters in 5 years with a share of 4.5%
The second largest importer to Russia
9% of goods in German ports are in Russia
Germany's seaports are likely to be hit by sanctions on Russia, the Federal Statistical Office said on March 8, 2022.
November data shows the country was the most important partner of German seaports in 2021, ahead of Sweden and China.
The volume of trade with Russia during this period amounted to 24.1 million metric tons, which is 9% of all goods transported to and from German ports.
2020: Germany - in the top ten exporters of wheat with an indicator of 9.3 million tons
2019
Exporting Computer Devices
Decrease in trade with Russia
The Impact of the Trump Administration's Trade Restrictions
2018
Wheat exports
Among the leaders in the export of pyrotechnics
See also
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