German exports increase 1.3% in August ’24

Germany’s exports increased by 1.3 per cent in August 2024, while imports dropped by 3.4 per cent compared to July 2024, as per a report from the Federal Statistical Office on Wednesday.

In August 2024, Germany exported goods worth €131.9 billion and imported goods worth €109.4 billion. This resulted in a foreign trade surplus of €22.5 billion, the report revealed.

Exports to EU countries increased by 0.8 per cent to €72.7 billion, while imports from EU countries decreased by 3.7 per cent to €57.4 billion.

The United States remained Germany’s top export destination, with exports increasing by 5.5 per cent to €13.5 billion euros. China was the country’s largest source of imports, with imports totaling €13.2 billion.

Trade with Russia continued to be impacted by the ongoing conflict. Exports to Russia declined by 9.5 per cent to €0.6 billion, and imports from Russia dropped by 29.1 per cent to €0.1 billion euros.

Attribution: The Federal Statistical Office statement

Subediting: M. S. Salama