German exports fell by the largest amount in five months in January and imports also declined according to Destatis, the federal statistics office, on Monday. Germany exported goods to the value of €89.9bn and imported goods to the value of €74.0bn in January 2015. Based on provisional data Destatis also reports that German exports fell by 0.6% and imports by 2.3% in January 2015 year on year. After calendar and seasonal adjustment, exports fell by 2.1% and imports by 0.3% compared with December 2014.
The foreign trade balance showed a surplus of €15.9bn in January 2015. In January 2014, the surplus amounted to €14.7bn. The seasonal foreign trade balance recorded a surplus of €19.7bn in January 2015.
Based on Bundesbank data, the current account of the balance of payments showed a surplus of €16.8bn in January 2015, which takes into account the balances of trade in goods including supplementary trade items (+€15.8bn), services (–€2.4bn), primary income (+€7.7bn) and secondary income (–€4.4bn). In January 2014, the German current account showed a surplus of €13.9bn.
Shipments to the EU28 amounted to €54.1bn while imports amounted to €47.0bn from those countries. Compared with January 2014, exports to the EU countries decreased by 0.7%, and imports from those countries by 2.7%. Goods to the value of €34.2bn (–2.8%) were dispatched to the Euro area countries in January 2015, while the value of the goods received from those countries* was €32.2bn (–4.5%). In January 2015, goods to the value of €19.9bn (+3.0%) were exported to EU countries not belonging to the Euro area, while the value of the goods imported from those countries was €14.8bn (+1.4%).
Exports of goods to countries outside the European Union (third countries) amounted to €35.8bn in January 2015, while imports from those countries totalled €27.1bn. Compared with January 2014, exports to third countries decreased by 0.5% and imports from those countries by 1.5%.
*Before adjustment for goods from other countries that were transhipped via the port of Rotterdam.