This is a setback for the German economy. In April, foreign trade was still recording rising exports – which fuelled hopes of an economic recovery.
German companies exported significantly less in May. Compared to the previous month of April, the value of exported goods fell by 3.6 percent to 131.6 billion euros, according to the Federal Statistical Office. Imports also weakened, falling by 6.6 percent to 106.7 billion euros. The foreign trade surplus was thus 24.9 billion euros, compared to 22.2 billion euros in April. Last year, the German export industry had already felt the weakness of world trade and the consequences of geopolitical crises.
Destatis on foreign trade 5/2024
Source: Stern
