Allemagne Balance Commerciale

Germany's trade surplus fell to EUR 16 billion in January 2025 from EUR 20.7 billion in December 2024, below forecasts of EUR 21 billion, marking the smallest trade surplus since last October as exports fell while imports rose. Exports dropped by 2.5% mom to EUR 129.2 billion in January, marking the first contraction in exports in three months weighed down by sales to EU countries (-4.2%), specifically to the Euro area (-5.0%) and the non-Euro area (-2.3%). Additionally, sales to third countries shrank by 0.4%, due to lower sales to the US (-4.2%) and China (-0.9%), but rising sales to the UK (1.7%) and Russia (7.2%). Meanwhile, imports grew by 1.2% to an 18-month high of EUR 113.1 billion. Imports from third countries grew by 3.7%, amid higher arrivals from the US (6.5%), Russia (7.2%), and the UK (18.8%), while purchases from China declined (-2.8%). By contrast, purchases from the EU fell by 1.1%, with declines from both the Euro area (-0.2%) and the non-Euro area (-2.7%).