Germany’ trade balance in December beat expectations at €20.7 billion, over the €17.0 billion that was expected.

• Exports jumped 2.9% MoM despite analysts expecting a slight -0.6% MoM decline.
• Imports increased 2.1% MoM, slightly higher than the 1.8% Mom expected.
• Exports to EU countries increased 5.9% MoM and imports were up 3.6% MoM.
• Exports outside of the EU fell by -0.5% MoM including a decline of -3.5% MoM in exports to the US, offset by a 1.4% MoM increase in exports to China
• Imports from outside of the EU were up 0.5% MoM including a 3.0% MoM rise in imports from the US.
• For the full year 2024, exports were down -1.0% and imports were down -2.8% compared to 2023 which pushed the trade surplus up to €241.2 billion