Germany’s trade figures have become clear, and the economic powerhouse seems to be playing the “who can shrink slower?” game in the global market. Despite sharp declines in exports and imports, Germany’s trade surplus managed to widen in May 2024.
the The Federal Statistical Office reported on Monday Trade balance of 24.9 billion eurosup from April’s reading of €22.2 billion, proving that sometimes, you can win by losing less than the other party.
Here are the details: German exports fell by -3.6% to €131.6 billion, while imports saw an even bigger decline, falling by -6.6% to €106.7 billion. Compared to last May, it looks like exports have caught a slight cold (-1.6%), but imports have caught the flu (-8.7%).
In the international trade arena, Germany’s relations are as complicated as a TV series. The United States, its close friend in buying goods, has calmed down a bit, cutting its purchases by 2.9%. Meanwhile, China seems to be playing hardball, with German exports to it falling by 10.2%.
And what about poor Russia? Well, let’s just say that trade with it is about as popular as eating vegetarian food at a sausage festival, down 19.3% in a single month. On the other hand, German shopping trips to China grew slightly, while Germany spent more money on American goods.
