Germany's foreign trade volume narrows in May

Germany's exports and imports posted annual and monthly declines in May 2024, the federal statistical authority Destatis revealed on Monday.

The country's exports decreased by 3.6% on a monthly and 1.6% on a yearly basis to €131.6 billion ($142.4 billion) in May while imports dropped by 6.6% month-on-month and 8.7% year-on-year to €106.7 billion.

The foreign trade balance posted a surplus of €24.9 billion in May 2024.

Germany exported goods worth €72.3 billion to EU member states in May, while importing €55.7 billion from these countries, a 2.5% and 8.9% decrease, respectively, from April.

Meanwhile, Germany's exports to non-EU countries totaled €59.4 billion in May, and imports were at €51 billion, declining by 4.9% and 4%, respectively, month-on-month.