Imports and exports fell significantly below last year's figures

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2025 September 13 . 2:46 PM

2 min read

Imports and exports significantly lagged behind last year's figures

Imports and exports fell significantly below last year's figures

In August 2020, Germany's trade activities showed a mixed picture, with both imports and exports showing growth compared to July, but a decrease compared to the same month the previous year.

The value of goods exported to the member states of the European Union (EU) reached 48.2 billion euros, while imports amounted to 41.6 billion euros. This means that Germany exported more goods to EU countries than it imported, contributing to a positive trade balance.

The trade balance surplus, when adjusted for calendar and seasonal effects, was 15.7 billion euros in August 2020. This represents a decrease from the 16.4 billion euros surplus in August 2019.

However, the value of goods exported to third countries saw a decrease of 13.6% compared to August 2019, amounting to 43.0 billion euros. Imports from third countries also decreased by 10.5%, with goods worth 36.9 billion euros imported in August 2020.

German exports decreased by 10.2% compared to August 2019, amounting to 91.2 billion euros in August 2020. Imports, on the other hand, decreased by 7.9% compared to August 2019, amounting to 78.5 billion euros in August 2020.

Despite the decreases in exports and imports, the trade balance in August 2020 closed with a surplus of 12.8 billion euros. The German current account balance also remained positive, closing with a surplus of 16.5 billion euros.

It's worth noting that container ship traffic to and from Germany increased in August 2020 compared to July 2020, as evidenced by a photograph from dts News Agency.

The most important export and import markets for Germany in August 2020 were EU countries such as Poland for exports, and major global partners including the USA and China, with the USA being the largest market for cheese exports and China the largest for skimmed milk powder exports. Other significant markets included Switzerland, Ukraine, Canada, and various Asian countries like Indonesia, the Philippines, and Thailand.

In comparison, the trade figures from August 2019 paint a different picture. The German current account balance showed a positive balance of 15.9 billion euros, and the trade balance surplus was 16.4 billion euros.

In conclusion, while Germany's trade activities saw a decrease compared to August 2019, there were signs of recovery in August 2020, with both imports and exports increasing compared to July 2020. The country's trade balance and current account balance remained positive, indicating a resilient economy despite the challenges posed by the global pandemic.