Germany’s trade surplus surges 28.7% in H1 ’24

Germany’s trade surplus saw a significant increase in the first half of 2024, rising by 28.7 per cent to reach 138.8 billion euros. This improvement comes despite a slight decline in both exports and imports.

German exports fell by 1.6 per cent year on year, totalling 801.7 billion euros in the first six months of 2024. Meanwhile, imports decreased more sharply, dropping by 6.2 per cent to 662.8 billion euros compared to the same period in 2023.

The widening trade surplus underscores Germany’s economic resilience, as the country managed to strengthen its foreign trade balance despite overall lower trade activity.

Attribution: The Federal Statistical Office (Destatis)

Subediting: M. S. Salama