Germany's trade surplus narrowed sharply to EUR 7.1 billion in May 2020 from EUR 20.7 billion in the same month of the previous year, as the coronavirus pandemic hit global demand. Exports tumbled 29.7 percent due to lower sales to the European Union (-29 percent) and to third countries (-30.5 percent), in particular to the UK (-46.9 percent), the US (-36.5 percent) and China (-12.3 percent). Imports slumped 21.7 percent, as purchases from the EU plunged 25.2 percent and those from third countries fell 17.5 percent. Among non-EU countries, imports were down from the UK (-20.3 percent) and the US (-26.9 percent), but were up from China (23.4 percent). On a seasonally adjusted basis, exports rebounded 9 percent in May, missing market forecasts of a 13.8 percent recovery, while imports rose 3.5 percent, also less than an expected 12 percent jump.
Balance of Trade in Germany averaged 5452.25 EUR Million from 1950 until 2020, reaching an all time high of 25455.63 EUR Million in March of 2016 and a record low of -535.91 EUR Million in April of 1991. This page provides - Germany Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Germany Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Federal Statistical Office
Balance of Trade in Germany is expected to be 23900.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Germany to stand at 1800.00 in 12 months time. In the long-term, the Germany Balance of Trade is projected to trend around 6800.00 EUR Million in 2021 and 4600.00 EUR Million in 2022, according to our econometric models.