German exports unexpectedly fell in January after
gaining in the previous two months. Meanwhile, the trade surplus declined and
the current account balance, a measure of all trade including services, fell
sharply from December, as imports rose.
Germany exported commodities to the value of €78.5bn and imported
commodities to the value of € 68.4bn in January 2011, according to the federal
statistics office, Destatis. German exports increased by 24.2% and imports by
24.1% in January 2011 on January 2010. After seasonal adjustment,
exports and imports showed diverging trends compared with the preceding month:
while exports fell by 1.0% on December 2010, imports rose by 2.3%.
The foreign trade balance showed a surplus of €10.1bn in January 2011,
down from €12.2bn in December .
In January 2010, the surplus amounted to €8.1bn. After seasonal adjustment, the foreign trade balance recorded a surplus of
€11.8bn in January 2011.
According to provisional results of the Deutsche Bundesbank,
the current account of the balance of payments showed a surplus of €7.2bn in January 2011, which included the balance of services (–
€1.2bn), factor income net (+ €3.4bn), current transfers (– €3.7bn), and supplementary trade items (–
€1.3bn), down from €19.3bn in December. In January
2010, the German current account showed a surplus of €5.6bn.
In January 2011, Germany dispatched goods to the value of
€48.3bn to the member countries of the European Union (EU), while it received
commodities to the value of €41.8bn from those countries. Compared
with January 2010, dispatches to the
countries increased by 20.4% and arrivals from those countries by 19.7%.
Commodities to the value of €32.7bn (+18.8%) were dispatched to the Eurozone countries in January 2011, while the value of the commodities received
from those countries was €29.2bn (+17.1%).
In January 2011,
commodities to the value of €15.6bn (+23.8%) were dispatched to
EU countries not belonging to the
Eurozone, while the value of the commodities which arrived from those countries was
Exports of commodities to countries outside the
European Union (third countries)
amounted to €30.2bn in January 2011, while imports from those
countries totalled €26.7bn. Compared with January 2010, exports to
third countries increased by 30.8% and imports from those countries by 31.6%.