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News : EU Economy Last Updated: Jul 9, 2013 - 12:11 PM


German exports fell in May; Trade with other Euro countries in balance in 2013
By Finfacts Team
Jul 8, 2013 - 8:10 AM

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German exports fell in the month of May while imports rose. Trade with other Euro Area countries is in balance in the first five months of 2013 according to data issued this morning by Destatis, the federal statistics office.

Germany exported goods to the value of €88.2bn and imported goods to the value of €75.2bn in May 2013. Based on provisional data, the Federal Statistical Office (Destatis>) also reports that German exports decreased by 4.8% and imports by 2.6% in May 2013 on May 2012. The month-on-month comparison showed opposite developments of exports and imports upon calendar and seasonal adjustment. While exports decreased by 2.4% on April 2013, imports increased by 1.7%. 

The foreign trade balance showed a surplus of €13.1bn in May 2013. In May 2012, the surplus had amounted to 15.6bn. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of €14.1bn in May 2013. 

According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of €11.2bn in May 2013, which included the balance of services (–€0.4bn), factor income net (+€1.6bn), current transfers (–€2.1bn), and supplementary trade items (–€1.0bn). In May 2012, the German current account showed a surplus of €10.0bn. 

In May 2013, German shipments worth €50.0bn went to the other member countries of the European Union (EU), while it received goods to the value of 49.1bn from those countries. Compared with May 2012, dispatches to the EU countries decreased by 7.1% and arrivals from those countries by 0.7%.

Goods to the value of €32.3bn (–9.6%) were dispatched to the Eurozone countries in May 2013, while the value of the goods received from those countries was €34.6bn (–0.5%).

In May 2013, goods to the value of €17.7bn (–2.4%) were dispatched to EU countries not belonging to the Eurozone, while the value of the goods which arrived from those countries was 14.4bn (–1.3%). 

Exports of goods to countries outside the European Union (third countries) amounted to €38.2bn in May 2013, while imports from those countries totalled €26.1bn.

Compared with May 2012, exports to third countries decreased by 1.6% and imports from those countries by 5.9%.  

Finfacts: Germany's Trade Surplus: The myth and reality

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Item May
2013
January to
May
2013
Percentage change from
May
2012
January to
May
2012
billion euros in %
Discrepancies in the totals may occur due to rounding.
Total exports 88.2 454.3 –4.8 –0.3
including: 
EU Member States 50.0 259.9 –7.1 –2.1
Euro area 32.3 169.8 –9.6 –3.6
Non-euro area 17.7 90.1 –2.4 0.9
Third countries 38.2 194.4 –1.6 2.2
Total imports 75.2 374.0 –2.6 –1.7
including:
EU Member States 49.1 242.0 –0.7 0.3
Euro area 34.6 169.0 –0.5 –0.7
Non-euro area 14.4 73.1 –1.3 2.5
Third countries 26.1 132.0 –5.9 –5.0

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