CAPTION: German export surplus down significantly due to more expensive energy. (picture alliance/dpa/Christian Charisius)
The sharp rise in energy prices more than halved Germany's export surplus in trade with other countries last year. While indeed more goods were exported than imported yet again in 2022, the foreign trade balance - the difference between exports and imports - fell from 175.3 billion euros in the previous year to 79.7 billion euros, according to the Federal Statistical Office. This marked the lowest export surplus since 2000. Germany's export strength had repeatedly caused disgruntlement among other countries.
With a foreign trade turnover of 297.9 billion euros, China was Germany's largest trading partner for the seventh year in a row. While the value of goods imports from the People's Republic rose by 33.6 percent to a record 191.1 billion euros, exports "Made in Germany" to the country increased by only 3.1 percent to 106.8 billion euros. The United States was the second most important trading partner with sales of 247.8 billion euros, followed by the Netherlands with 233.6 billion euros.
Most German exports went to the United States, as has been the case since 2015. Goods worth 156.1 billion euros were exported there (up 27.9 percent). Imports from the US rose by 26.8 percent to 91.7 billion euros. France was the second most important customer country (116.1 billion), followed by the Netherlands (110.6 billion).
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A single purchase
