Financial Insights That Matter
German exports fell in 2024, despite an uptick in sales abroad during the final month of December, according to new figures released by Germany’s Federal Statistical Office on Friday.
German exports with a total value of €1.56 trillion ($1.62 trillion) were delivered abroad over the course of 2024, down 1.0% from the total in 2023.
According to figures from the Federal Statistical Office, imports to Germany fell even more sharply, down 2.8% year-on-year to €1.32 trillion.
China’s aggressive industrial policy is affecting the export industry, as is the fact that US President Donald Trump appears to be making good on his trade threats and imposing tariffs on imports into the important US market.
In the final quarter of 2024, exports were one of the brakes on the German economy, which was stuck in recession. Exports of “Made in Germany” goods were “significantly lower” than in the previous quarter, the agency recently stated.
In December, however, exports rose compared to both the previous month of November (up 2.9%) and compared to December 2023 (up 3.4%), reaching a total of €131.7 billion, according to the latest figures from the Federal Statistical Office.
Imports also increased in December in both comparisons, hitting €111.1 billion.
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