Germany's foreign trade volume narrows in May

By Gokhan Ergocun

ISTANBUL (AA) - 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.