Germany had record exports and imports in March 2015 according to Destatis, the federal statistics office, today.
Germany exported goods to the value of €107.5bn and imported goods to the value of €84.5bn in March 2015. These were the highest monthly export and import values ever recorded. Based on provisional data, the Destatis says that exports increased by 12.4% and imports by 7.1% in March 2015 year on year. After calendar and seasonal adjustment, exports rose by 1.2% and imports by 2.4% compared with February 2015.
The foreign trade balance showed a surplus of €23.0bn in March 2015. In March 2014, the surplus amounted to €16.7bn. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of €19.3bn in March 2015.
According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of €27.9bn in March 2015, which takes into account the balances of trade in goods including supplementary trade items (+€24.4bn), services (–€1.7bn), primary income (+€8.6bn) and secondary income (–€3.4bn). In March 2014, the German current account showed a surplus of €22.0bn.
In March 2015, Germany dispatched goods to the value of €61.5bn to the member states of the European Union (EU), while it received goods to the value of €55.0bn from those countries. Compared with March 2014, exports to the EU countries increased by 10.8%, and imports from those countries by 5.1%. Goods to the value of €38.6bn (+9.1%) were dispatched to Eurozone countries in March 2015, while the value of the goods received from those countries was €37.8bn (+4.9%). In March 2015, goods to the value of €23.0bn (+13.7%) were shipped to EU countries not belonging to the Eurozone, while the value of the goods which arrived from those countries was €17.2bn (+5.4%).
Exports of goods to countries outside the European Union (third countries) amounted to €46.0bn in March 2015, while imports from those countries totalled €29.5bn. Compared with March 2014, exports to third countries increased by 14.6% and imports from those countries by 11.1%.
German exporters facing strong headwinds despite a lower euro - Part 1& 2
Analysis: Germany world's top surplus economy; UK tops deficit ranks
Germany at full-employment: Lessons for low-pay US manufacturing
The Eurozone imports are exaggerated by transhipments through the Dutch port of Rotterdam that are initially classified as of Dutch origin but are later reclassified as originating in ex-EU 28 countries.