German Exports (destatis.de)German Exports (destatis.de)

German Exports to Non-EU Countries Fell 4.0% in December 2023

WIESBADEN – Germany’s exports to non-European Union countries (third countries) witnessed a 4.0% decline in December 2023 compared to November 2023, after adjusting for calendar and seasonal variations. According to preliminary data released by the Federal Statistical Office (Destatis), the value of goods exported in December 2023 amounted to €57.2 billion. This downturn reflects a notable shift in Germany’s export dynamics amid evolving global trade patterns.

In December 2023, exports to Russia plummeted by 32.3% to €0.6 billion compared to the same month in 2022. As of December 2023, Russia ranked 20th among the most important destinations for German exports outside the EU, a stark contrast to February 2022, just before the attack on Ukraine, when Russia was the fifth-largest export destination. This significant drop highlights the geopolitical complexities impacting German trade, particularly in relation to the ongoing tensions surrounding the Ukraine conflict.

Destatis further reported that when measured in original values, the exports to third countries stood at €53.0 billion, marking a significant 9.2% decrease from the previous year.

The decline in exports to third countries comes at a time when the global market is experiencing shifts in trade alliances and economic policies. This reduction is particularly significant in the context of Germany’s strong dependence on exports for economic growth. The current figures, while concerning, are a crucial indicator of the need for German businesses to adapt to changing global trade environments and explore new markets.

By Silvia Orfeo

Silvia Orfeo is a Sr. Politics and Economics Reporter at Nobot.News

Leave a Reply

Your email address will not be published. Required fields are marked *

GDPR Cookie Consent with Real Cookie Banner