German Exports Surge Anew on the Month, But Persist Below Pre-Pandemic Level

9 April, 2021

By David Barwick – FRANKFURT (Econostream) – German exports climbed a seasonally and calendar-adjusted 0.9% on the month in February, the German Federal Statistical Office said on Friday.

Imports were up 3.6% in February compared to January. Compared to February 2020, the last period before the outbreak of the pandemic, exports this February were down a seasonally and calendar-adjusted 2.1%, while imports were up a weak 0.2%.

The foreign trade surplus in February was at a seasonally and calendar-adjusted €19.1 billion, while Germany's current account balance stood at €18.8 billion.

According to Statistical Office data, German exports to other euro area countries in February totalled €40.4 billion, with imports at €33.7 billion. Those figures represented decreases on the year of 0.9% and 0.6%, respectively.

Exports to China were up 25.7% on the year, while those to the U.S. decreased by 0.6%. In absolute terms, exports to China in February had a value of €8.5 billion, versus €9.5 billion of exports to the U.S.

Imports from China meanwhile were up 32.5% on the year to €9.9 billion, whereas imports from the U.S. were down 12.6% to €5.1 billion.