In December 2024, Germany's exports increased by 2.9% and imports by 2.1% compared to November, according to preliminary figures from the Federal Statistical Office (Destatis). Compared to December 2023, exports rose by 3.4% and imports by 4.5%. However, despite this end-of-year growth, Germany's total exports for 2024 fell by 1.0% compared to the previous year, while imports dropped by 2.8%.
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For the full year, Germany exported goods worth approximately €1.56 trillion and imported goods totalling €1.32 trillion. The trade balance remained positive, with a surplus of €241.2 billion, reflecting Germany's continued strength in foreign trade despite declining figures.
Trade with EU and non-EU countries
Exports to European Union (EU) member states reached €72.4 billion in December, marking a 5.9% increase from the previous month. Imports from EU countries stood at €57.0 billion, rising by 3.6%. Within the eurozone, exports grew by 6.7% to €50.6 billion, while imports increased by 4.0% to €37.3 billion. Trade with non-eurozone EU members also saw growth, with exports up by 3.9% and imports by 2.9%.
Trade with non-EU countries showed a different trend. Exports to these regions fell by 0.5% to €59.3 billion in December, while imports rose slightly by 0.5% to €54.1 billion. The United States remained Germany's top export destination, though shipments there dropped by 3.5% to €13.5 billion. Exports to China rose by 1.4% to €6.7 billion, while exports to the United Kingdom saw a significant decline of 6.6% to the same value.
Import trends
China remained Germany's primary source of imports, with goods valued at €13.4 billion arriving from the country in December, a 1.0% decrease from November. Imports from the United States increased by 3.0% to €7.5 billion, whereas imports from the UK fell by 3.0% to €3.0 billion. Notably, imports from Russia saw a 14.4% increase to €0.1 billion compared to November, though they remained 49.7% lower than in 2023.
Annual overview and outlook
For the entire year, exports to the EU totalled €847.7 billion, down 1.3% from 2023, while exports to non-EU countries reached €711.9 billion, decreasing by 0.5%. Imports from the EU declined by 3.3%, with those from the eurozone falling by 4.1%. Imports from non-EU countries dropped by 2.3% overall.
Germany's trade figures in 2024 reflect ongoing economic headwinds, including supply chain disruptions and geopolitical uncertainties. While December showed signs of recovery, the overall yearly decline in trade indicates that global economic challenges continue to impact Germany's export-driven economy. Looking ahead, stabilisation in key markets and improved trade relations may be critical to reversing this trend in 2025.
More information:
Destatis
www.destatis.de