Germany's export surplus down for 5th consecutive year

By Ovunc Kutlu

ANKARA (AA) - Germany's export surplus in 2021 was down for the fifth consecutive year, the Federal Statistical Office said Thursday.

The country's export surplus dropped to €172.9 billion ($191.3 billion) in 2021, a decline of 4.2% from the previous year.

"In 2021, Germany recorded an excess of imports over exports in trade with Russia because the prices of imported crude oil and natural gas had risen sharply," Destatis said in a statement.

Germany had the highest export surplus with the US last year, followed by France and the UK.

In 2016, Germany's export surplus climbed to a record high of €250 billion ($276.6 billion).