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Exports on January 20, 2021: + 1.4% / Exports down 3.3% as on December 2020 …

09.03.2021 – 08:00

Federal Office of Statistics

Vicebaton (ots)

Export, January 2021

98.1 billion euros

+ 1.4% in previous month (adjusted by calendar and season)

-8.0% in the same month of the previous year

Import, January 2021

83.8 billion euros

-4.7% in the previous month (adjusted by calendar and season)

-9.8% in the same month of the previous year

Foreign Trade Balance, January 2021:

14.3 billion euros

22.2 billion euros (calendar and seasonally adjusted)

Current account according to Deutsche Bundesbank, January 2021 calculations

16.9 billion euros

In January 2021, exports in Germany rose 1.4% compared to December 2020, adjusted by calendar and seasonal, while imports fell by 4.7%. According to preliminary results from the Federal Bureau of Statistics (Testadis), calendar and seasonally adjusted exports were up 3.3% and imports were up 5.2% a month before the start of corona-related restrictions in Germany in February 2020.

In January 2021, Germany exported goods worth 98 98.1 billion and imported goods worth 83 83.8 billion. Compared to January 2020, exports fell by 8.0% in January 2021 and imports by 9.8%.

Foreign trade reserves closed in January 2021 with a surplus of .3 14.3 billion. In January 2020, foreign trade reserves stood at 13.7 billion euros. Adjusted for the calendar and season, the foreign trade surplus in January 2021 was 22.2 billion euros.

Germany’s current account closed in January, with trade surpluses (+13.5 billion euros), services (+1.0 billion euros), primary income (+9.7 billion euros) and secondary income (77.3 billion euros) surplus of 20.16.9 billion euros by 2021. In January 2020, the German current account showed a surplus of 15.9 billion euros.

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Foreign trade with EU countries

In January 2021, .5 54.5 billion worth of goods were exported to EU member states, and .3 44.3 billion worth of goods were imported from there. Compared to January 2020, exports to EU countries fell by 6.0% and imports from these countries by 5.9%. In January 2021, 38.1 billion euros (-6.5%) worth of goods were exported to eurozone countries, and 29.7 billion euros (-7.4%) worth of goods were imported from these countries. In January 2021, goods worth 16.4 billion euros (-4.8%) and 14.5 billion euros (-2.7%) were exported to non-EU countries.

Foreign trade with non-EU countries

In January 2021, goods worth 43 43.6 billion were exported to countries outside the EU (Third Countries), and .5 39.5 billion worth of goods were imported from these countries. Compared to January 2020, exports to third countries fell by 10.3% and imports from there by 13.9%.

Foreign trade with the UK

Exports to the United Kingdom fell 29.0% to 4.3 billion euros in January 2021. The provisional calculation for March 2, 2021, which showed a 30% decrease, is thus approximately confirmed (see News Release No. 096). German imports from the United Kingdom fell 56.2% to 1.6 billion euros.

On January 1, 2021, the Treaty Partnership Agreement between the European Union and the United Kingdom came into force on a temporary basis. With the EU leaving the internal market and customs, the UK exit from the EU is now finally complete. The Federal Bureau of Statistics’ “Brexit Monitor” provides additional information about Brexit and a selection of statistical indicators for which Brexit’s influence can be considered.

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Effects of corona epidemic on foreign trade with selected countries

In January 2021, exports to the People’s Republic of China increased by 3.1% to .5 7.5 billion. Compared to January 2020. Exports to the United States fell 6.2% to 8.5 billion euros.

In January 2021 most imports came to Germany from the People’s Republic of China. Goods worth .5 10.5 billion were imported from there (+1.1% in the same month last year). Imports from the United States fell 22.8% in January 2021 to 4.7 billion euros.

Method Notes:

Different comparison periods should be taken into account in all statements relating to economic indicators. The focus of economic observation is to compare with the previous month / quarter. Short-term economic growth can be read from this. The comparison with the previous year is a long-term comparison of conditions and independent of seasonal fluctuations. In the current corona crisis, sometimes strong declines and increases can lead to very different results compared to the previous month / quarter and year. Two perspectives are important: How is economic growth compared to the previous month / previous quarter, and how far is the capture process compared to the previous year’s level? In order to implement a direct comparison to the pre-crisis level, comparisons for the 4th quarter of February 2020 and 2019 will be shown in all press releases and adjusted accordingly.

The first preliminary detailed results are available for download through the chapters on the list of products for country of birth / destination and foreign trade figures.

The Crisis Monitor implements a comparison between the corona crisis and the financial and economic crisis

Foreign trade figures are also part of the “crisis monitoring” (www.destatis.de/krisenmonitor), The Federal Bureau of Statistics compares the growth of key economic indicators in the Corona crisis and the 2008/2009 financial and economic crisis. Crisis Monitor Provides Special Side Corona Statistics (www.destatis.de/corona), Which compiles statistical information on the economic and social consequences of corona infection.

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