Germany: Merchandise exports drop in January
Merchandise exports contracted 2.8% over the previous month in January (December: +1.2% month-on-month). Meanwhile, merchandise imports dropped 4.2% in monthly terms in January (December: +4.0% mom).
As a result, the merchandise trade balance improved from the previous month, recording a EUR 9.4 billion surplus in January (December 2021: EUR 8.1 billion surplus; January 2021: EUR 20.7 billion surplus). On the other hand, the trend worsened as the 12-month trailing merchandise trade balance recording a EUR 158.5 billion surplus in January, compared to EUR the 169.7 billion surplus recorded in December.