Germany’s exports to Russia up 14.5% month on month and down 40.3% year on year

August 4, 2022

Exports (calendar and seasonally adjusted exports of goods), June 2022
134.3 billion euros
+4.5% on the previous month
+18.4% on the same month a year earlier

Imports (calendar and seasonally adjusted imports of goods), June 2022
127.9 billion euros
+0.2% on the previous month
+27.9% on the same month a year earlier

Foreign trade balance (calendar and seasonally adjusted), June 2022:
+6.4 billion euros

In June 2022, German exports were up by 4.5% and imports by 0.2% on a calendar and seasonally adjusted basis compared with May 2022. Based on provisional data, the Federal Statistical Office (Destatis) also reports that exports increased by 18.4% and imports by 27.9% from June 2021. Exports to the Russian Federation in June 2022 were up a calendar and seasonally adjusted 14.5% to 1.2 billion euros on May 2022, whereas they were down 40.3% on June 2021. Imports from Russia rose by 4.8% to 3.5 billion euros in June 2022 from May 2022.

After calendar and seasonal adjustment, Germany exported goods to the total value of 134.3 billion euros and imported goods to the value of 127.9 billion euros in June 2022. The foreign trade balance showed a surplus of 6.4 billion euros in June 2022. The calendar and seasonally adjusted surplus had been +0.8 billion euros in May 2022 and +13.5 billion euros in June 2021.

Trade with EU countries

On a calendar and seasonally adjusted basis, Germany exported goods to the value of 72.9 billion euros to the Member States of the European Union (EU), while it imported goods to the value of 62.8 billion euros from those countries in June 2022. Compared with May 2022, calendar and seasonally adjusted exports to EU countries rose by 3.9% and imports from those countries by 0.3%. The value of the goods exported to euro area countries totalled 50.7 billion euros (+3.9%) and the value of the goods imported from there was 43.1 billion euros (+0.4%).

Goods to the value of 22.2 billion euros (+4.0%) were exported to EU countries not belonging to the euro area, while the value of the goods imported from those countries was 19.7 billion euros (+0.1%).

Trade with non-EU countries

Exports of goods to countries outside the EU (third countries) amounted to 61.4 billion euros in June 2022, while imports from those countries totalled 65.1 billion euros on a calendar and seasonally adjusted basis. Compared with May 2022, exports to third countries increased by 5.3% and imports from those countries by 0.1%.

Most German exports went to the United States in June 2022. 6.2% more goods were exported there after seasonal and calendar adjustment, compared with May 2022. Exports to the United States thus rose to 14.2 billion euros. Exports to the People’s Republic of China increased by 2.4% to 8.9 billion euros and exports to the United Kingdom by 4.2% to 6.0 billion euros.

Most imports to Germany came from the People’s Republic of China in June 2022. Goods to the value of 17.0 billion euros were imported from there, which was a 3.9% decrease compared with the previous month, after calendar and seasonal adjustment. Imports from the United States rose by 14.7% to 8.5 billion euros. Imports from the United Kingdom dropped by 6.6% to 3.2 billion euros in the same period.

Original foreign trade values (not adjusted for calendar or seasonal effects)

Germany exported goods to the value of 136.0 billion euros and imported goods to the value of 128.3 billion euros on a nominal basis (not adjusted for calendar or seasonal effects) in June 2022. Compared with June 2021, exports increased by 14.6% and imports by 24.9%. The unadjusted foreign trade balance showed a surplus of 7.7 billion euros in June 2022. In June 2021, the surplus had been +15.9 billion euros.

On a nominal basis, Germany exported goods to the value of 1.2 billion euros to Russia in June 2022. Consequently, the Russian Federation ranked 23^rd among the major countries of destination for German exports in June 2022. In May 2022, Russia had ranked 26^th, in June 2021 it had ranked 15^th.

Source: Destatis
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