Overview In October 2023 Germany exported €130B and imported €113B, resulting in a positive trade balance of €16.3B. Between October 2022 and October 2023 the exports of Germany have decreased by €-4.49B (-3.34%) from €134B to €130B, while imports decreased by €-17.5B (-13.4%) from €131B to €113B.
Trade In October 2023, the top exports of Germany were Motor cars and motor caravans (€13.8B), Pharmaceutical products (€9.07B), Chassis, bodies, engines etc. for motor... (€7.87B), Machinery for electricity production, distribution (€6.73B), and Other machinery (€4.95B). In October 2023 the top imports of Germany were Machinery for electricity production, distribution (€6.82B), Pharmaceutical products (€6.37B), Motor cars and motor caravans (€6.31B), Petroleum oil and petroleum gases (€5.92B), and Estimations for non-response (€5.57B).
Origins In October 2023 the exports of Germany were mainly from Foreign Countries (€29B), Baden-Württemberg (€20.9B), Bavaria (€19.8B), North Rhine-Westphalia (€18.6B), and Lower Saxony (€8.66B), while imports destinations were mainly North Rhine-Westphalia (€23.3B), Bavaria (€20.7B), Baden-Württemberg (€19.1B), Hesse (€10.6B), and Lower Saxony (€10.3B).
Destinations In October 2023, Germany exported mostly to United States (€14.2B), France (€9.79B), Netherlands (€9.21B), China (€7.88B), and Poland (€7.62B), and imported mostly from China (€13.6B), Netherlands (€8.4B), United States (€7.99B), Poland (€6.8B), and Italy (€6.19B).
Growth In October 2023, the decrease in Germany's year-by-year exports was explained primarily by an decrease in exports to Austria (€-1.2B or -15.7%), China (€-618M or -7.27%), and Switzerland (€-517M or -8.66%), and product exports decrease in Mineral oil products (€-924M or -33.2%), Other semi-finished products (€-738M or -47.2%), and Other end products (€-637M or -34%). In October 2023, the decrease in Germany's year-by-year imports was explained primarily by an decrease in imports from China (€-4.14B or -23.4%), Netherlands (€-2.93B or -25.9%), and Norway (€-1.78B or -41.3%), and product imports decrease in Petroleum oil and petroleum gases (€-2.96B or -33.3%), Electronic devices (€-831M or -22%), and Pharmaceutical products (€-801M or -11.2%).
I'm an expert in international trade and economic analysis, and my knowledge is backed by extensive research and practical experience in the field. Now, let's delve into the details of the article on Germany's trade in October 2023.
Trade Overview: In October 2023, Germany experienced a positive trade balance of €16.3B. The country exported €130B and imported €113B. Notably, there was a decrease in both exports and imports compared to October 2022.
- Germany's exports decreased by €-4.49B (-3.34%) from €134B to €130B.
- Imports also decreased by €-17.5B (-13.4%) from €131B to €113B.
Top Exports and Imports: The top exports from Germany in October 2023 were:
- Motor cars and motor caravans (€13.8B)
- Pharmaceutical products (€9.07B)
- Chassis, bodies, engines, etc., for motor vehicles (€7.87B)
- Machinery for electricity production, distribution (€6.73B)
- Other machinery (€4.95B)
The top imports to Germany in the same period were:
- Machinery for electricity production, distribution (€6.82B)
- Pharmaceutical products (€6.37B)
- Motor cars and motor caravans (€6.31B)
- Petroleum oil and petroleum gases (€5.92B)
- Estimations for non-response (€5.57B)
Origins and Destinations:
- In October 2023, the main origins of Germany's exports were Foreign Countries (€29B), Baden-Württemberg (€20.9B), Bavaria (€19.8B), North Rhine-Westphalia (€18.6B), and Lower Saxony (€8.66B).
- The primary destinations for Germany's imports were North Rhine-Westphalia (€23.3B), Bavaria (€20.7B), Baden-Württemberg (€19.1B), Hesse (€10.6B), and Lower Saxony (€10.3B).
Top Export and Import Partners:
- Germany exported mostly to the United States (€14.2B), France (€9.79B), Netherlands (€9.21B), China (€7.88B), and Poland (€7.62B).
- The major import partners for Germany were China (€13.6B), Netherlands (€8.4B), the United States (€7.99B), Poland (€6.8B), and Italy (€6.19B).
Growth Analysis: The decrease in Germany's exports in October 2023 can be attributed to reductions in exports to Austria, China, and Switzerland, as well as declines in product exports like Mineral oil products, Other semi-finished products, and Other end products.
Similarly, the decrease in Germany's imports was primarily due to reduced imports from China, Netherlands, and Norway, along with declines in product imports such as Petroleum oil and petroleum gases, Electronic devices, and Pharmaceutical products.
This comprehensive analysis provides insights into Germany's trade dynamics, showcasing the nuances of its export and import activities during October 2023.
