February 23, 2023
- Foreign trade balance down by more than half on 2021
- China most important trading partner of Germany again, United Kingdom falls to rank 11
- Largest deficit in trade with China since the beginning of the time series in 1950
- United States most important country importing German goods again
The German export surplus in 2022 was at its lowest level since 2000. The Federal Statistical Office (Destatis) reports that the foreign trade balance was down by more than half from +175.3 billion euros in 2021 to +79.7 billion euros, one of the reasons being the sharp price increase for energy imports. In trade with China, which in 2022 fell from rank 2 to rank 4 of the most important countries importing German goods, Germany recorded the largest trade deficit since the beginning of the time series in 1950.
Source: DESTATIS
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