German exports to non-EU countries dip in July 

German exports to countries outside the European Union experienced a minor decline of 0.2 per cent in July 2024, compared to June 2024, based on calendar and seasonally adjusted data released on Thursday.

The total value of these exports was 58.7 billion euros. However, on a non-calendar and seasonally adjusted basis, exports to third countries amounted to 62.6 billion euros, marking a 6.5 per cent increase compared to July 2023.

The United States remained Germany’s top trading partner, with exports valued at 14.2 billion euros, reflecting a 4.2 per cent year-on-year increase. In contrast, exports to China decreased by 2.9 per cent to 8.0 billion euros. Exports to the United Kingdom rose by 7.6 per cent to 6.6 billion euros.

Notably, German exports to Russia increased by 2.5 per cent to 0.7 billion euros in July 2024 compared to the same month in 2023.

Despite this increase, Russia ranked 20th among Germany’s most important non-EU export destinations, a significant drop from its 5th place ranking in February 2022, prior to the Ukraine conflict.