Imports are also declining. But the export balance for the first nine months of 2023 is positive.
Germany’s exporters also felt the weakness of the global economy in September. Exports of goods “Made in Germany” fell both compared to the previous month and the same month last year, as reported by the Federal Statistical Office.
Goods worth 126.5 billion euros were exported. That was 7.5 percent less than in September 2022. As of August 2023 there was a decrease of 2.4 percent.
The export balance for the first nine months was better thanks to a positive start to the year: the value of exported goods rose slightly by 0.1 percent to 1,177.8 billion euros within the year.
Imports fell even more significantly than exports within a year in September, falling by 16.6 percent to 110.0 billion euros. Compared to the previous month, they fell by 1.7 percent.
Last year, German foreign trade achieved record results, partly due to significant price increases. However, the effects cannot be quantified precisely because statisticians do not collect price-adjusted data on foreign trade.
Source: Stern
