Germany’s Exports and Imports Decline in First Half of the Year

• Germany’s exports and imports both declined in the first half of this year, signaling ongoing challenges for the EU’s largest economy.
• Exports fell by 1.6% year-on-year to EUR 801.7 billion, while imports saw a sharper decline of 6.2% to EUR 662.8 billion.
• Key sectors were particularly affected: the export value of cars and components dropped by 2.4%, machinery by 4.4%, and chemical products also by 4.4%.
• The United States remains the largest importer of German products, followed by France and the Netherlands. Meanwhile, China was the leading source of imports to Germany in the first half of the year.

Wiesbaden, August 20 (FFN) – Germany’s exports and imports both experienced declines in the first half of this year, providing further evidence of the challenging economic conditions facing the EU’s largest economy, according to the latest data released by the German statistics office Destatis and reported by DPA.

Exports from Germany decreased by 1.6% year-on-year in the first six months of 2024, reaching a total of EUR 801.7 billion. The decline in imports was even more pronounced, dropping by 6.2% to EUR 662.8 billion over the same period.

The downturn in exports was notably severe in key industrial sectors. The value of exported cars and components fell by 2.4%, while machinery exports dropped by 4.4%. Similarly, the export value of chemical products also decreased by 4.4%.

Despite these challenges, the United States remains the largest importer of German goods, followed by France and the Netherlands. On the import side, China continues to be the largest source of goods imported into Germany during the first half of the year.

Germany’s Trade Performance in H1 2024