Germany broke a record in exports last year
According to the provisional data announced by the German Federal Statistical Office (Destatis), seasonally and calendar adjusted exports in the country were 1 trillion 564.1 billion euros and imports were 1 trillion 488.1 euros last year.
Seasonally and calendar adjusted exports of the country increased by 14.3 percent last year, while imports increased by 24.3 percent due to high energy prices.
Breaking a record by exporting 1 trillion 368 billion euros in 2021, Germany broke a new record in exports of 1 trillion 564.1 billion euros last year.
In the statement of Destatis, it was stated that the foreign trade surplus in 2022 was the lowest since 2000, and said, “The surplus in 2021 was 175.3 billion euros. This means that the foreign trade surplus in 2022 decreased by more than half compared to the previous year. ” expressions were used.
German exports fall more than expected in December
Meanwhile, German exports fell more than expected in December, as high inflation and market uncertainty due to the Russian-Ukrainian war put pressure on the German economy.
The country’s exports decreased by 6.3 percent to 127.4 million in December compared to the previous month. The market expectation for December exports was a decrease of 3.3 percent on a monthly basis.
In December, exports to the USA decreased by 10 percent to 12.3 billion euros, exports to China decreased by 14.2 percent to 7.6 billion euros, and exports to England decreased by 24.3 percent to 5.6 billion euros.
The German government expects exports to increase by 2.2 percent in 2023, in anticipation of a recession in the global economy.