Press release No. 054 of 9 February 2021
Exports, December 2020
100.7 billion euros
+0.1% on the previous month (calendar and seasonally adjusted)
+2.7% on the same month a year earlier
2020
1,204.7 billion euros
-9.3% on the previous year
Imports, December 2020
85.9 billion euros
-0.1% on the previous month (calendar and seasonally adjusted)
+3.5% on the same month a year earlier
2020
1,025.6 billion euros
-7.1% on the previous year
Foreign trade balance, December 2020
14.8 billion euros
16.1 billion euros (calendar and seasonally adjusted)
2020
179.1 billion euros
Current account according to calculations of the Deutsche Bundesbank, December 2020
28.2 billion euros
2020
236.2 billion euros
WIESBADEN – In December 2020, German exports were up 0.1%, while imports were down by 0.1% on November 2020, after calendar and seasonal adjustment. Based on provisional data, the Federal Statistical Office (Destatis) also reports that, after calendar and seasonal adjustment, exports were 4.6%, and imports 0.1%, lower than in February 2020, the month before restrictions were imposed due to the corona pandemic in Germany.
Germany exported goods to the value of 100.7 billion euros and imported goods to the value of 85.9 billion euros in December 2020. Compared with December 2019, exports increased by 2.7%, and imports by 3.5% in December 2020. In the whole of 2020, exports were 9.3%, and imports 7.1%, lower than in 2019.
The foreign trade balance showed a surplus of 14.8 billion euros in December 2020. In December 2019, the surplus of the foreign trade balance amounted to 15.1 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 16.1 billion euros in December 2020.
The German current account of the balance of payments showed a surplus of 28.2 billion euros in December 2020, which takes into account the balances of trade in goods (+17.3 billion euros), services (+2.5 billion euros), primary income (+14.2 billion euros) and secondary income (-5.8 billion euros). In December 2019, the German current account showed a surplus of 25.3 billion euros.
Trade with EU countries
In December 2020, Germany exported goods to the value of 51.4 billion euros to the Member States of the European Union (EU), while it imported goods to the value of 46.0 billion euros from those countries. Compared with December 2019, exports to the EU countries increased by 4.2%, and imports from those countries rose by 6.0%. Goods to the value of 35.7 billion euros (+2.8%) were exported to the euro area countries in December 2020, while the value of the goods imported from those countries was 31.1 billion euros (+3.1%). In December 2020, goods to the value of 15.7 billion euros (+7.6%) were exported to EU countries not belonging to the euro area, while the value of the goods imported from those countries was 15.0 billion euros (+12.5%).
Trade with non-EU countries
Exports of goods to countries outside the European Union (third countries) amounted to 49.2 billion euros in December 2020, while imports from those countries totalled 39.8 billion euros. Compared with December 2019, exports to third countries increased by 1.1% and imports from those countries by 0.8%.
Trade with the United Kingdom
Compared with the same month last year, exports to the United Kingdom dropped by 3.3% to 5.0 billion euros in December 2020. German imports from the United Kingdom were down by 11.4% to 2.8 billion euros.
Following a transitional period until the end of 2020, the partnership agreement negotiated between the EU and the United Kingdom took provisional effect on 1 January 2021. As the United Kingdom has left the EU single market and the customs union, its withdrawal from the EU has now been completed. More information on the Brexit and a selection of statistical indicators that are assumed to be affected by the Brexit are provided by the Brexit Monitor of the Federal Statistical Office.
Impact of the coronavirus pandemic on trade with selected countries
In December 2020, exports to the People's Republic of China rose by 11.6% to 9.3 billion euros, compared with December 2019. Exports to the United States increased by 8.4% to 9.2 billion euros. This was the first year-on-year increase in German exports to the United States since February 2020.
In December 2020, most imports came to Germany from the People's Republic of China. Goods to the value of 10.0 billion euros were imported from there (+15.7% on the same month a year earlier). Imports from the United States rose by 2.2% to 5.6 billion euros in December 2020.
Foreign trade results for 2020
Germany exported goods to the value of 1,204.7 billion euros and imported goods to the value of 1,025.6 billion euros in 2020. The 9.3% decrease in exports and the 7.1% decline in imports, as compared with 2019, were the largest year-on-year decreases in both exports and imports since the financial and economic crisis in 2009. During that crisis, exports decreased by 18.4% and imports by 17.5% compared with 2008.
The foreign trade balance showed a surplus of 179.1 billion euros in 2020. This means that the German export surplus declined for the fourth year in a row. A lower export surplus than in 2020 was last reported in 2011, when it stood at +158.7 billion euros. In 2019, the surplus of the foreign trade balance was +224.0 billion euros.
Most important trading partners in 2020
The majority of German goods were exported to the United States in 2020. Although exports to the United States declined by 12.5.% to 103.8 billion euros compared with 2019, the United States again ranked first in the list of the most important countries for exports from Germany. The People's Republic of China came second with 95.9 billion euros (-0.1% on the previous year), followed by France with 91.0 billion euros (-14.6%).
In 2020, most imports came to Germany from the People's Republic of China. Goods to the value of 116.2 billion euros were imported from there (+5.6% on a year earlier). The Netherlands ranked second among the most important countries for imports to Germany, accounting for goods to the value of 88.4 billion euros (-9.6%). The United States came third with a value of 67.8 billion euros (-5.0%).
Methodological note:
The differing comparative periods must be taken into account in all press releases on short-term indicators. Short-term economic monitoring focuses on comparisons with the previous month or previous quarter. These reflect short-term economic trends. A comparison with the previous year is intended to offer a long-term comparison of levels and is not subject to seasonal fluctuations. Due to strong temporary decreases and increases during the current coronavirus crisis, the results of month-on-month/quarter-on-quarter and year-on-year comparisons may differ considerably. Both of the two perspectives are important: what is the short-term economic trend compared with the previous month/previous quarter, and how far has the catching-up process gone compared with the previous year’s level? In order to provide also a direct comparison with the pre-crisis level, all press releases on short-term indicators available in seasonally adjusted form will, for the time being, include a comparison with February 2020 or the 4th quarter of 2019.
| Item | December | January to December | November | December | January to December |
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| 1 According to calculations of the Deutsche Bundesbank. | |||||
| Foreign trade | |||||
| 1 Exports (f.o.b.) | 100.7 | 1 204.7 | 111.8 | 98.1 | 1 328.2 |
| 2 Imports (c.i.f.) | 85.9 | 1 025.6 | 95.2 | 82.9 | 1 104.1 |
| 3 Foreign trade balance (1-2) | 14.8 | 179.1 | 16.7 | 15.1 | 224.0 |
| Transition to trade in goods 1 | |||||
| 4 Supplementary trade items | 2.4 | 15.5 | 1.8 | -2.4 | -2.2 |
| Current account balances 1 | |||||
| 5 Trade in goods (3+4) | 17.3 | 194.6 | 18.4 | 12.8 | 221.8 |
| 6 Services | 2.5 | -0.3 | 1.8 | 2.7 | -21.7 |
| 7 Primary income | 14.2 | 92.6 | 8.5 | 14.0 | 92.3 |
| 8 Secondary income | -5.8 | -50.7 | -7.5 | -4.2 | -47.6 |
| Current account (5+6+7+8) | 28.2 | 236.2 | 21.2 | 25.3 | 244.8 |
| Item | December 2020 | January to December 2020 | Percentage change from | |
|---|---|---|---|---|
| December 2019 | January to December 2019 | |||
| billion euro | % | |||
| Total exports | 100.7 | 1,204.7 | 2.7 | -9.3 |
| including: | ||||
| EU Member States | 51.4 | 634.4 | 4.2 | -9.2 |
| Euro-zone | 35.7 | 440.8 | 2.8 | -10.5 |
| Non-euro-zone | 15.7 | 193.6 | 7.6 | -6.0 |
| Third countries | 49.2 | 570.4 | 1.1 | -9.4 |
| including: | ||||
| United Kingdom | 5.0 | 66.9 | -3.3 | -15.5 |
| Total imports | 85.9 | 1,025.6 | 3.5 | -7.1 |
| including: | ||||
| EU Member States | 46.0 | 547.6 | 6.0 | -7.7 |
| Euro-zone | 31.1 | 372.8 | 3.1 | -9.0 |
| Non-euro-zone | 15.0 | 174.9 | 12.5 | -4.7 |
| Third countries | 39.8 | 478.0 | 0.8 | -6.4 |
| including: | ||||
| United Kingdom | 2.8 | 34.7 | -11.4 | -9.6 |
| Year | Month | Exports | Imports | ||||||
|---|---|---|---|---|---|---|---|---|---|
| original value | calendar and seasonally adjusted value 1 | original value | calendar and seasonally adjusted value 1 | ||||||
| value in billion euros | change on the same month of the previous year in % | value in billion euros | change on previous month in % | value in billion euros | change on the same month of the previous year in % | value in billion euros | change on previous month in % | ||
| 1 Using J-DEMETRA+ (X-13 ARIMA). | |||||||||
| 2019 | January | 108.9 | 1.7 | 112.2 | 0.3 | 94.2 | 5.2 | 93.2 | 0.9 |
| February | 108.8 | 3.9 | 110.8 | -1.3 | 91.1 | 5.8 | 92.8 | -0.4 | |
| March | 118.2 | 1.8 | 112.4 | 1.5 | 95.8 | 5.2 | 92.9 | 0.1 | |
| April | 110.0 | -0.3 | 109.7 | -2.4 | 92.1 | 2.5 | 92.1 | -0.9 | |
| May | 114.2 | 4.8 | 110.4 | 0.6 | 93.5 | 5.0 | 92.1 | -0.0 | |
| June | 106.2 | -7.9 | 111.0 | 0.5 | 89.5 | -4.1 | 93.0 | 0.9 | |
| July | 115.0 | 3.6 | 110.8 | -0.1 | 93.7 | -1.0 | 91.7 | -1.3 | |
| August | 101.6 | -3.6 | 110.3 | -0.5 | 85.1 | -3.0 | 91.0 | -0.8 | |
| September | 114.1 | 4.6 | 111.2 | 0.9 | 93.0 | 2.2 | 91.7 | 0.8 | |
| October | 119.8 | 2.1 | 112.7 | 1.3 | 98.4 | -0.1 | 92.4 | 0.8 | |
| November | 113.2 | -2.6 | 110.9 | -1.6 | 94.7 | -1.5 | 92.2 | -0.2 | |
| December | 98.1 | 2.4 | 111.0 | 0.0 | 82.9 | 1.4 | 91.8 | -0.4 | |
| 2020 | January | 106.6 | -2.1 | 111.1 | 0.1 | 92.9 | -1.4 | 92.5 | 0.7 |
| February | 109.2 | 0.3 | 112.5 | 1.3 | 88.9 | -2.4 | 91.3 | -1.2 | |
| March | 108.9 | -7.9 | 99.3 | -11.8 | 91.7 | -4.3 | 86.6 | -5.2 | |
| April | 75.7 | -31.1 | 75.7 | -23.8 | 72.3 | -21.6 | 72.3 | -16.6 | |
| May | 80.2 | -29.8 | 82.2 | 8.6 | 73.3 | -21.6 | 75.1 | 3.9 | |
| June | 96.0 | -9.5 | 94.7 | 15.2 | 80.6 | -9.9 | 80.7 | 7.5 | |
| July | 102.3 | -11.0 | 98.8 | 4.3 | 83.1 | -11.3 | 81.4 | 0.9 | |
| August | 91.3 | -10.2 | 101.6 | 2.9 | 79.4 | -6.7 | 86.3 | 5.9 | |
| September | 109.9 | -3.8 | 104.0 | 2.3 | 89.7 | -3.5 | 86.8 | 0.6 | |
| October | 112.1 | -6.4 | 104.9 | 0.9 | 92.7 | -5.8 | 86.7 | -0.1 | |
| November | 111.8 | -1.2 | 107.3 | 2.3 | 95.2 | 0.5 | 91.3 | 5.4 | |
| December | 100.7 | 2.7 | 107.3 | 0.1 | 85.9 | 3.5 | 91.3 | -0.1 | |
First detailed provisional results (only in German) by country of origin/country of destination and by chapter of the Commodity Classification for Foreign Trade Statistics as well as a comparative table based on the country of origin/country of consignment concepts are available for downloading.
